Khushhali Bank

Project of NBFC

University of the Punjab

 Khushhali Bank

Project of NBFC

Submitted to:

Sir Ehtsham

Submitted by:

Attiq ur rehman MC09128

Yasir Ayub MC09103

Abdul Baki

Asim nisar

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Dedication

Our group dedicates this project to our parents who encourage us & help us in every field of life & of
course our teacher without whom we could not able to make this project. May they live long.

(Aamin)

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Acknowledgment

First of all we thank our Almighty ALLAH who has blessed us the courage, energy to complete our final
project.

This course work project which is the assignment of our M.com program is dedicated unanimously to our
Sir. What we have learnt from this program is not the gift of our course books but is the relentless hard
work and skill of our instructor. Whatever benefit we will get by this course in our personal life is one
thing but the quality of the knowledge that has been delivered to us will remain with us.

We are also thankful to all those who helped us to collect the data without which my report would not
have been completed

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Executive Summary

Founded in the year 2000, Khushhali Bank Limited was a part of the Government of Islamic Republic of
Pakistan's Poverty Reduction Strategy and its Microfinance Sector Development Program (MSDP). MSDP
was developed with the facilitation of Asian Development Bank (ADB). With its headquarters based in
Islamabad.

It deals in no of microfinance and full banking services product like agri, new business, working capital
needs,livestock loan and full banking product constitutes of current account, term deposits certificates
and remittance facilites. it got a good depositor and borrower base as compared to other micro finance
institution in the field and lead the industry in key financial indicators. the bank also involves in non
financial performance such as employee training and recognition. khushali bank provide their employee a
good working envoirment, It also contribute towards the commercial and developmental role. Khushali
bank looking forward to have some improvement in their HR department IT department and conversion
of its branches to full banking facility’s n short Khushali bank is playing a vital role in the economic
development of the country by increasing the productivity and reducing the poverty which is the main
problem of our country.

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Table of content
Project of NBFC.......................................................................................................................2

Submitted to:................................................................................................................................................ 2

Submitted by:................................................................................................................................................ 2

Dedication...............................................................................................................................3

Acknowledgment....................................................................................................................4

Executive Summary.................................................................................................................5

Table of content......................................................................................................................6

Need and importance of assignment.......................................................................................8

Selection of specialized financial institution with strong reason..............................................8

Overview of organization........................................................................................................9

Vision......................................................................................................................................9

Mission...................................................................................................................................9

Values.....................................................................................................................................9

No of branches and head office.............................................................................................10

Shareholders.........................................................................................................................11

Historical Back ground..........................................................................................................12

Development and commercial role........................................................................................13

Earthquake livelihood restoration program...............................................................................................13

Small infra structure projects..................................................................................................................... 13

Management Supports Women.................................................................................................................. 14

Distance learning programs........................................................................................................................ 14

Scholarship program................................................................................................................................... 14

Jafakash Aurat Program.............................................................................................................................. 15

Product line...........................................................................................................................15

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Micro credit products.................................................................................................................................. 15

Agriculture loans...................................................................................................................................... 15

Live stock loan......................................................................................................................................... 17

Asset purchase loan................................................................................................................................. 17

Working capital need............................................................................................................................... 18

New business loan................................................................................................................................... 19

Micro insurance products....................................................................................................................... 20

Current account...................................................................................................................................... 20

Product success and failure...................................................................................................21

Future outlook of the organization........................................................................................22

Human Resource........................................................................................................................................ 22

IT department............................................................................................................................................. 23

Full banking services.................................................................................................................................. 23

Financial performance of khushali bank................................................................................23

Comparative analysis with other banks.................................................................................25

Credit Rating of Khushali Bank Limited.................................................................................................... 25

Non financial performance....................................................................................................27

Client’s loyalty............................................................................................................................................. 27

Job knowledge test...................................................................................................................................... 27

Employee recognition................................................................................................................................. 27

Refresher trainings..................................................................................................................................... 27

Recommendations.................................................................................................................28

Bibliography..........................................................................................................................29

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Need and importance of assignment

Pakistan is a poor country most of people living their lives below the poverty line. In this condition micro
finance bank is last hope for the revival. Micro finance bank provide short term loan to investors so that
they can spend in a useful purposes and can earn a useful return from them. specially as we know that
success of each country depends upon the strong footings of the hosue and cottage industry(eg china).so
in a country like Pakistan where there is a high inflation and high intrest rates there must be a institution
which provide loan to the people at low cost.so that theycan save themselves from sahukars.

As far as we people are concerned this assignment is very important for us.As,this will provide us with a
better understanding of NBFC with refrence to micro finance.this will provide us with some subjective
information which we will implement practically in near future

Selection of specialized financial institution with strong reason

Poverty—the malignant malady ailing today’s world—has posed a major challenge to emerging nations in
their pursuit of economic growth and social development. And rightly so, because macro-economic
growth does not always filter down to the last legs of society. And millions are left to suffer poverty,
trapped without spite. Even with Pakistan averaging an impressive GDP growth rate of over 7.5 per cent
over the last several years, unemployment has rated above 5 per cent while literacy is estimated at only 54
per cent. Every fourth Pakistani is surviving below the poverty line.

Tackling these deep-rooted issues is beyond the very structure and scope of mainstream commercial
banking and that’s not even their objective. About 80 per cent of Pakistan’s population does not at all have
access to financial services by the commercial banks. Hence microfinance is a targeted strategy to bring
about change in the lives of millions for whom it is by far the only true hope of improving their lives.
Khushhali Bank Limited—one microfinance institution that is convincingly dispelling this misconception
through its pioneering performance. With initial funding from the Asian Development Bank, and the
paid-up capital subscribed by 16 commercial banks, Khushhali Bank Limited was established in August
Backed by a strong banking expertise and an in-depth knowledge of the emerging socio-economic
markets, and driven by a deep and compassionate understanding of the poverty factor, Khushhali Bank
Limited is today the largest microfinance institution in Pakistan in terms of coverage. Its operations and
impact span across all the four provinces of the country, Jammu and Kashmir and the Federally
Administered Tribal Areas. And being a pioneer, born and bred on a solid home ground, Khushhali Bank
Limited is fully prepared to offer viable answers to how poverty can be alleviated and optimistically.

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Overview of organization

Founded in the year 2000, Khushhali Bank Limited was a part of the Government of Islamic Republic of
Pakistan's Poverty Reduction Strategy and its Microfinance Sector Development Program (MSDP). MSDP
was developed with the facilitation of Asian Development Bank (ADB). With its headquarters based in
Islamabad, Khushhali Bank Limited operates under the supervision of the State Bank of Pakistan (SBP)
and many central (commercial) banks are its shareholders. The mandate remains to retail microfinance
services and to act as a catalyst in stabilizing the country's newly formed microfinance sector.

Vision

To be a premier financial Institution in the microfinance Industry.

Mission
 

To strengthen the economic base of low Income populace across Pakistan

by improving their accessibility to financial services. By supporting a
diverse product suite with exemplary service and by deploying cost
efficient next generation delivery systems, we intend achieving our core
objective of outreach and sustainability.

    Values  
 Empower
 Excel
 Ethics

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No of branches and head office

Northen region 2

Eastern region 27

Central region 31

Southern region 35

Total No of branches: 114

Head office: Islamabad, blue area.

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Shareholders

The shareholders of the Bank are as follow:  

 National Bank of Pakistan

 Habib Bank Limited

 MCB Bank Limited

 United Bank Limited

 Allied Bank Limited

 Standard Chartered Bank (Pakistan) Limited

 Askari Bank Limited

 Bank Al Habib Limited

 Soneri Bank Limited

 Habib Metropolitan Bank Limited

 Faysal Bank Limited

 KASB Bank Limited

 Silk Bank Limited

 Mybank Limited

 Citibank N. A. Pakistan Operations

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Historical Back ground

The history of microfinancing can be traced back as long to the middle of the 1800s when the theorist
Lysander Spooner was writing over the benefits from small credits to entrepreneurs and farmers as a way
getting the people out of poverty. But it was at the end of World War II with the Marshall plan the concept
had an big impact.

The today use of the expression microfinancing has it roots in the 1970s when organizations, such as
Grameen Bank of Bangladesh with the microfinance pioneer Mohammad Yunus, where starting and
shaping the modern industry of microfinancing. Another pioneer in this sector is Akhtar Hameed Khan.
At that time a new wave of microfinance initiatives introduced many new innovations into the sector.
Many pioneering enterprises began experimenting with loaning to the underserved people. The main
reason why microfinance is dated to the 1970s is that the programs could show that people can be relied
on to repay their loans and that it´s possible to provide financial services to poor people through
marketbased enterprises without subsidy. Shorebank was the first microfinance and community
development bank founded 1974 in Chicago .

An economical historian at Yale named Timothy Guinnane has been doing some research on Friedrich
Wilhelm Raiffeisen´s village bank movement in Germany which started in 1864 an by the year 1901 the
bank had reached 2million rural farmers. Timothy Guinnane means that already then it was proved that
microcredit could pass the two tests concerning peoples paybackmoral and the possibility to provide the
financial service to poor people.

Another organization, The caisse populaire movement grounded by Alphone and Dorimène Desjardins in
Quebec , was also concerned about the poverty, and passed those two tests. Between 1900 to 1906 when
they founded the first caisse, they passed a law governing them in the Quebec assembly , they risked their
private assets and must have been very sure about the idea about microcredit.

Today the World Bank estimates that more than 16 million people are served by some 7000 microfinance
institutions all over the world. CGAP experts means that about 500 million families benefits from these
small loans making new business possible. In a gathering at a Microcredit Summit in Washington DC the
goal was reaching 100 million of the world´s poorest people by credits from the world leaders and major
financial institutions.

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Development and commercial role

Earthquake livelihood restoration program

The objective of ELRP was to provide substantial and immediate response to the poor in the nine districts
declared as disaster affected areas with an objective to restore income flows, reduce dependence on relief,
revive local economies and provide shelter whilst undertaking livelihoods. To achieve these objectives
Khushhali Bank with its extensive network of branches was the designated implementing agency. KBL
used its own organizational structures and personnel and coordinated with service providers for
immediate outreach to affected households. For immediate response, State Bank of Pakistan (SBP) issued
licenses and KBL in addition to its existing branches in Abbottabad & Muzaffarabad established six new
branches in the affected districts of  Neelum Bagh and Poonch in AJK province and Batagram, Kohistan
and Shangla in NWFP.

Small infra structure projects

The objective of Small Infrastructure Projects (SIP’s) was to increase access of poor communities to
infrastructure for improving their livelihoods through efficient and productive use of local resources. For
this purpose a Community Investment Fund (CIF) was established to finance the Small Infrastructure
Projects through participatory process. The involvement of local stakeholders in identifying, planning,
executing & monitoring community infrastructure projects greatly empowered them

The Small Infrastructure Projects were undertaken on equity participation of 40% from the Community
Organization against the total project cost while 60% cost was funded through the Community Investment
Fund (CIF). A Service Provider was engaged to work on technical side of the projects and as a result 1569
SIP’s were completed during the period of Fund. These projects include Roads & Bridges (122), Farm
irrigation (689), Domestic Water Supply (164), Drainage & Sewerage (27), School Building (49), Rural
Electrification, Computer Centers, PCO’s and Community Halls (518).

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Management Supports Women

KB’s female orientation is reflected not only in the clients they serve, but in their hiring policy as well.
More than 30% of KB’s staff are women, with 2 women occupying seats in the board of directors to ensure
gender orientation in policy making.

Distance learning programs

Distance Learning programs’ (DLP) objective was to spread business development services and corporate
image building materials by mobile training units that were well equipped with media technologies,
raising the confidence of existing and potential borrowers and communities at large thus enabling the
Bank to develop its’ market and client loyalty.

Scholarship program

In line with overall strategy of Khushhali Bank Limited (KBL) to strengthen its’ role and brand image in
marginalized territories and attract to promote education and enhance accessibility to educational
institutions as part of its social corporate responsibility mandate, KBL commenced Khushhali Bank
Scholarship Scheme (KBSS) in 2005.

A total of 332 scholarships amounting to PKR 76,890,465  have been awarded as of September 30, 09, to
domicile holders of Sindh, Balochistan and FATA, of which 244 scholarships valuing PKR 52,548,012
were awarded to domicile holders of tribal areas. A total of 62 students have completed their degrees as of
September 09.

Jafakash Aurat Program

kB started a unique project for women folk who only believes in hard work but also confidence
themselves. The purpose of this project is to generate income for the poor women by developing and
strengthening their skills. The project was started in Gawadar that was a itself a challenge because
unavailability of school and college and second accessibility and availability of raw material. When KBL
covered initial problems then it started Training Need Assessment (TNA). After finding potential lucrative
and most demanded skills KBL started short courses e.g. beautician, cooking on commercial basis,
designing and computer literacy etc. this project was successfully running and now total trained 4500
women. 695 women enjoys the micro credit loans.

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Product line
Micro credit products
Agriculture loans
Product

Product Features Details

Product Name Agriculture Loan

Product Type/Category Group Based

Product Description For the purchase of seed, fertilizer, pesticides.

For irrigation, rental of agricultural equipment,
transportation etc.

Details Age: 18 – 58 years, Maximum for repeat clients:

65 years
Loan Eligibility Criteria
Income: Total annual income is less than
Rs.300,000
Permanent resident of the locality for 2 years
NADRA NIC Holder
2 years experience

Loan Amount PKR 3,000 / 15,000

3-12 Months
Tenure/Repayment Options
Quarterly/Semiannual/Annually

Guarantors Cross Guarantees

Collateral None

Features

Product Name Live Stock Loan

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 Live stock loan

Khushhali Bank
Product
Group Based
Type/Category

Product
For the purchase of livestock
Description

Age: 18 – 58 years, Maximum for repeat

clients: 65 years
Income: Total annual income is less than
Loan Eligibility Rs.300,000
Criteria Permanent resident of the locality for 2
years
NADRA NIC Holder
2 years experience

Loan Amount PKR 3,000 / 15,000

Tenure/Repayment 3-12 Months

Options Monthly/Quarterly/Semiannual/Annually

Guarantors Cross Guarantees

Collateral None

Asset purchase loan

Product Features Details

Product Name Asset Purchase Loan

Product Type/Category Group Based

Product Description For the purchase of new assets having

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minimum useful life of one year.

Age: 18 – 58 years, Maximum for repeat

clients: 65 years
Income: Total annual income is less than
Rs.300,000
Loan Eligibility Criteria
Permanent resident of the locality for 2
years
NADRA NIC Holder
2 years experience

Loan Amount PKR 3,000 / 15,000

3-12 Months
Tenure/Repayment Options
Monthly/Quarterly/Semiannual/Annually

Guarantors Cross Guarantees

Collateral None

Working capital need

Product
Details
Features

Product Name Working Capital Loan

Product
Group Based
Type/Category

Product
For managing a running business
Description

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Age: 18 – 58 years, Maximum for repeat clients: 65
years
Income: Total annual income is less than
Loan Eligibility
Rs.300,000
Criteria
Permanent resident of the locality for 2 years
NADRA NIC Holder
2 years experience

Loan Amount PKR 3,000 / 15,000

Tenure/Repayment 3-12 Months

Options Bullet/Quarterly/Semiannual/Annually

Guarantors Cross Guarantees

Collateral None

New business loan   

Details
Product Features
Product Name New Business Loans
Product Type/Category Group Based for both rural and urban
Product Description For establishment of new business.
Age: 18 – 58 years, Maximum for
repeat clients: 65 years
Income: Total annual income is less
than Rs.300,000
Loan Eligibility Criteria
Permanent resident of the locality for
2 years
Resident for 2 years
NADRA NIC Holder
Loan Amount PKR 3,000 / 15,000

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3-6 Months
Tenure/Repayment Options
Equal Monthly Installments
Guarantors Cross Guarantees
Collateral None
Please refer to our current schedule of
Rates & Fees Structure
charges

Micro insurance products

Product Features Details

Product Name KBL Micro loan insurance Scheme
Product Description Credit Life Insurance
Death / Permanent Disability of
Insurance Coverage of
Borrower
Eligibility All eligible borrowers
Period Covered Equal to loan term
Sum Insured Outstanding Loan Amount

 Current account

Product Features Details

Khushhali Bank Current
Product Name
Account
Current Account (non-
Product Description
interest bearing)
Cheque Books Available (conditions apply)
Eligibility Criteria Age: 18 years and above
NADRA NIC Holder/Valid
Pakistani Passport
2 Passport Size Photographs,
terms apply 
Account Opening Charges Rs.50.
Minimum Balance Required Rs. 500

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Please refer to our current

Fees & Charges
schedule of charges

Product success and failure

Agriculture products are more successful because our country is a agricultural country. people need loan
for there short term needs to purchase seeds and fertilizer etc. mostly they earn revenue through this
agriculture products. we can say that their major part of loan portfolio is consisted of the Agri loan. ZTBL
is the specially based organization fot the development of Agriculture sector but we cannot deny the role
played by khushali and other micro finance banks

Entrepreneur loan is provided to the small investor who want to start their new business in a new way.this
is the second most popular and successful product of the khushali bank. people meaty need working
capital loan to meet their regular expenses of their business. moreover there is no guarantee required
other than the cross guarantee.

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The third successful product of khushali bank is the loan for new assets purchase. it is popular because
this is the era of technology. one has to install new machines if he want to be competitive. khushali bank
provides such opportunity to it potential clients so that they can increase their productivity and increase
overall GDP. this loan is provided on a lenient conditions and borrower doesn’t have to toil to much as in
the case of other loan specially from the commercial banks. in Pakistan small and cottage industry is
flourishing these day that’s why its wastage is increasing day by day in the loan portfolio of Khushali bank

Livestock loan, this is the type of loan which is not so popular and successful loan of the KB. the big
reason behind this is that in Pakistan livestock is not popular with respect to the agriculture sector in the
country. the livestock industry in Pakistan is confined to some backward areas such as cholistan and some
of the tribal areas. Although Khushali bank have no such cluster of branches in such areas .the failure of
loan may be due to the low development of the livestock sector in Pakistan.

New products such as term deposit certificate have been introduced by the Khushali bank as a step
forward to full banking service. its offers a good rate of return on the TDR certificates. the edge that
khushali bank gets over the commercial banks in this regard is the minimum amount through which a
term deposit certificate can be purcahsed. this product has a very good future.

Future outlook of the organization

Human Resource

 Perusing the business objective hr strategy for 2011 as under

 employee selection strategy focusing on person job fit and a person organization fit
 Employee management strategy changing from controlling self management and
empowerment.
 Employee motivation strategy built around creating family like environment supported by
reward and recognition culture.
 Reinforce timely communication of the performance obj periodic reviews completion of annual
appraisals and compensation reviews.

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 Align induction policy of branch retail staff from local need perspective, quality and minimum
time to hire.
 Manage staff performance through automated HRMS
 Build people management capacities at supervisory and managerial cadre with emphasis on
customer services and leadership development.
 Reinforce work life balance so that people enjoy working for khushali bank.

IT department

 IT team has a challenging role in term of role out of integrated banking application acroos
network.
 Plans include conversion of 2/3rd of our network on an integrated banking application system in
2011 while remaining branches would follow in the next year.

Full banking services

Khushal bank is going to start full service banks in Pakistan.now the KB has some branches offering
products like commercial banks.this is the main objective of the Khushali bank for the future.

Financial performance of khushali bank

indicator 2010 2009 2008 2007

(000) (000) (000) (000)

Outreach Active 325,523 329,421 312,851 283,965

Borrowers

Number of Savers 205,962 74,995 3,477 -

GLP PKR 3,722,152,79 3,630,204,658 3,093,335,635 2,652,915,785

7

Amount of Savings 1,000,328,62 190,032,590 18,168,500 -

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PKR 5

Total Revenue 1,471,489,80 1,318,331,158 1,013,196,990 813,828,031

PKR 9

Total Revenue 1,471,489,80 1,318,331,158 1,013,196,990 813,828,031

PKR 9

Net Profit/(Loss) 188,138,462 252,004,780 60,911,974 156,306,062

PKR

Average ROA 0.8% 0.4% 4.9% 3.9%

% ---

Average ROE 2.6% 1.3% 17.9% 14.8%

% ---

Operational Self 105.0% 98.6% 75.5% 80.5%

Sufficiency (OSS)

Operating 28.0% 29.3% 31.6% 31.9%

Expense/GLP %

Personnel 13.7% 14.0% 13.3% 14.1%

Expense/GLP
%

Borrowers per 150 165 156 152

Staff

Savers per Staff 95 37 2 -

Comparative analysis with other banks

SBP has published the stretigic framework for the MFIs for 2011 reflecting microfinance bank progressKB
stands on the top of all.

MFBs Branches Borrowers Advances Deposits Asset Borrowing Equity NPL%

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KBL 114 352743 4129635 198782 6620837 4019160 2230746 1.96

FMFB 83 204301 3181759 5291011 6051049 - 523428 4.97

Tameer 40 104726 2835506 2296135 4136529 513379 1089686 0.92

Kashf 27 18142 449178 474050 1271234 300000 402065 3.65

Pak 17 8113 109214 28125 719455 - 677300 9.09

oman

Network 5 6224 84251 40686 278122 - 230747 38.51

Rozgar 4 14 726 23221 122826 - 96963 64.46

Total 290 694263 10790269 8352010 19200052 4832539 5250975 3.00

Credit Rating of Khushali Bank Limited

JCR-VIS Credit Rating Company Limited (JCR-VIS) upgrades the entity ratings of Khushhali Bank
Limited which is as follows:

Medium to long-term A (Single A) from A- (Single A Minus)

Short-term A-1 (A One) from A-2 (A-Two)

We recorded a profit before tax of PKR 188 million forthe year 2010 which is lower than last year’s of PKR
252 million primarily as a result of fall in non-core grant Income from PKR 250 million to PKR 98
million.

The bank continues to pursue a sustainable growth strategy with reliance on core business reducing
grants/subsidies and the overall sustainability indicators reflect improvement from 99% last year to 105%
in 2010.The devastating floods of August 2010 affected a large part of the branches and business in some
of the most potential areas of the country, and correspondingly suppressed growth in portfolio and
revenues.

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However, a comprehensive risk mitigation mechanism is in place to monitor and address the situation
and was successful in curtailing the impact to a large extent in 2010 and efforts will continue in the next
year as well. The conversion of branches to full service banking continues as per plan while
simultaneously moving onto a new core banking platform providing capability to develop new products &
services and pursue new business avenues. This is supplemented by strengthening of our business
faculties resulting in upsurge in retail deposits that will provide funding at competitive costs for future
growth and profitability.

Non financial performance

Client’s loyalty

For khushali bank client’s loyalty is the long term financial success. KB has the strong customer base with
some of their regular customers. it also offer some benefits for their regular customers. clients who are
loyal to the organization create good word of mouth for the organization which will increase customers for
the KB.KB main focus through the start of its operation is to create the loyalty of the customer

Job knowledge test

Job knowledge test of all branch retail staff was conducted in two phases in phase 1 middle managers were
tested, whereas officers cadres were tested in phase 2, this will increase the efficiency of employees and
provide them opportunity to weigh themselves on a yard stick. f further this will be recognized. This will
increase the non financial performance of the organization

Employee recognition

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In khushali bank there is a culture of appraising employees on regular basis. in addition to the recognition
at the site, it also publish a newsletter outreach on a quarter basis.KBL management congratulates their
employees on their well deserved promotion

Refresher trainings

Khushali bank offers regular training programs for their employees, which will increase efficiency and
thus effect the overall profitability of the organization. the best example is the certified bank teller
program.specially with the FSB program emergence it is the need of the hour to have your employees
trained.All the ROM and OM were trained as master trainers

Recommendations

 Open the branches in rural areas

 Support the community based loans
 Formulate incentive program for their employees
 There are many alliances of KB it must reduce its dependency on others
 Providing employees to latest technology so that they can urge potential customers in a proper
way.(for E.G videos on large screen such as success stories)

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Bibliography

http://www.microfinanceinfo.com/history-of-microfinance/

http://www.microfinanceconnect.info/au_history.php

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