Islamabad –: Mobilink Bank achieved notable growth in Loan Disbursement and Gross Loan Portfolio (GLP) across two key segments, Women as well as Micro, Small, and Medium Enterprises (MSMEs), as evident in its H1 2023 results. These achievements underline the Bank’s commitment to fostering financial inclusion and supporting the growth of small businesses, further demonstrating the effectiveness of its strategies and initiatives implemented over the past year.
Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. As part of its digital operator strategy, VEON is transforming people’s lives, creating opportunities for greater digital inclusion, and driving economic growth across countries that are home to more than 8% of the world’s population.
During the first half of 2023, the Bank disbursed loans of over PKR 4.32 billion to women entrepreneurs, reflecting a growth rate of 178% compared to the same period in 2022 in which PKR 2.42 billion were disbursed. Highlighting the bank’s success in attracting and nurturing talented women, the number of women borrowers grew from 61,242 in 2022 to 68,994 in 2023, reflecting a remarkable growth of 113%.
Mobilink Bank’s efforts to uplift the MSME sector yielded remarkable success as well, showcasing the Bank’s commitment to providing accessible financial solutions. The Bank’s initiatives in H1 2023 resulted in the disbursement of over PKR 11.63 billion to MSMEs (PKR 5.88 billion in 2022), achieving an impressive growth rate of 198% compared to the same period in 2022. The number of MSME borrowers also experienced an increase, with disbursements escalating from 23,173 in 2022 to 34,000 in 2023, reflecting a growth of 147%.
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Expressing his thoughts on the Bank’s accomplishments, Ghazanfar Azzam, President and CEO Mobilink Bank shared, “We take immense pride in the remarkable growth we have accomplished this year. Our dedication to empowering women entrepreneurs and bolstering the MSME sector has yielded exceptional outcomes, consequently fostering inclusive economic progress. These figures serve as a powerful testament to our resolve of enabling individuals and businesses to unleash their true potential. We will continue with the same zeal for creating growth opportunities for all.”
Atta-ur-Rehman, Chief Branch Business Officer Mobilink Bank said, “The resounding success of our bank exemplifies our steadfast commitment to drive inclusive economic growth and empower diverse segments of society. With the vision of empowering women and MSMEs, we are ready for taking all productive steps to continue including all, in the financial sphere.”
Mobilink Bank’s achievements go beyond financial figures, positioning the Bank as a key player in bridging the gender divide and outshining all other banks in topping the Banking on Equality Scorecard, released by the State Bank of Pakistan. By prioritizing women and MSMEs, Mobilink Bank drives economic progress, creates opportunities, and accelerates social development. Through customized digital and financial solutions, the Bank paves the way for the unbanked and underbanked, enabling them to thrive and prosper.