Mobilink Microfinance Bank, Pakistan’s leading digital microfinance institution, has announced a remarkable 97% increase in revenue during the first quarter of 2024 compared to the same period last year, setting the stage for a powerful start to the year.<\/p>\r\n\r\n\r\n\r\n
The bank’s Profit before Tax (PBT) also experienced significant growth, soaring by 110%. This robust financial performance underscores heightened customer and stakeholder confidence, as well as the positive momentum within Pakistan’s economic and business environment at the beginning of the year.<\/p>\r\n\r\n\r\n\r\n
As part of the VEON group, a global digital operator serving nearly 160 million customers across six dynamic markets, Mobilink Microfinance Bank is committed to championing financial inclusion and supporting the growth and sustainability of micro, small, and medium enterprises (MSMEs), especially those led by women.<\/p>\r\n\r\n\r\n\r\n
Leveraging microfinance and fintech, Mobilink Bank facilitates access to finance and promotes social mobility among underprivileged social segments.<\/p>\r\n
Its initiatives have empowered thousands of women entrepreneurs by providing essential skills and resources, while also strengthening numerous MSMEs to drive inclusive growth at the grassroots level.<\/p>\r\n\r\n\r\n\r\n
The bank’s purpose-driven approach has fostered remarkable customer loyalty and goodwill, evident in the substantial surge in both revenues and deposits throughout the quarter. In Q1 2024, the bank’s revenue reached PKR<\/a> 15,572 million, a significant increase from PKR 7,901 million in Q1 2023.<\/p>\r\n\r\n\r\n\r\n During the same period, Mobilink Microfinance Bank witnessed an 11% increase in total deposits compared to December 2023, with deposits growing from PKR 119,286 million to PKR 132,719 million.<\/p>\r\n