The first three quarters of 2023 saw Mobilink Bank experience remarkable development, demonstrating the bank’s dedication to helping Micro, Small, and Medium-Sized Enterprises (MSMEs) and its emphasis on creative, value-added solutions. Mobilink Bank, a member of the global digital operator VEON group, is essential to promoting economic growth and digital inclusion in nations that account for more than 8% of the world’s population.
Mobilink Bank’s overall income increased by 64% in Q32023, while its Profit Before Tax (PBT) increased by an astounding 299% over Q2022. Deposits were PKR 75 billion; core banking deposits climbed by 12%, while deposits in the JazzCash segment surged by 19%.
Proud to support gender equality and spur economic activity, Mobilink Bank extends 22% of its Gross Loan Portfolio (GLP) to 69,470+ female customers, demonstrating its dedication to supporting MSME’s. Loans totaling PKR 26 billion were disbursed by the Bank to MSMEs, a noteworthy 38% increase over the prior year.
The strong financial outcomes were acknowledged by Taimoor Farid, Acting CFO & Director Strategy at Mobilink Bank, and Ghazanfar Azzam, President & CEO. They highlighted the confidence of their esteemed clientele and their dedication to cultivating forthcoming economic expansion and bolstering the indispensable MSME industry.
In Q32023, Mobilink Bank grew in all verticals despite inflation concerns, with core banking income rising by 54% and branchless banking revenue rising by 76%. The Bank’s 1.2% Return on Assets (ROA) and 17.3% Return on Equity (ROE) demonstrate its profitability and commitment to assisting MSMEs—especially women-owned businesses—in their pursuit of sustainable growth. Mobilink Bank is still dedicated to upholding its excellent performance standards and supporting its MSME borrowers in the future.
