Mobilink Bank stood out for its commitment to empowering Micro, Small, and Medium Enterprises (MSMEs), constituting a significant 36% of its total loan portfolio and a noteworthy MSME Growth (YoY) of 41% in 2023. The Bank strongly advocates for social mobility, especially in empowering MSMEs and women across remote rural regions, offering tailored financial products and services. Mobilink Bank's inclusive loan offerings are pivotal in bringing about positive transformations within communities nationwide. In a dedicated effort to address the gender-specific impacts of natural disasters driven by climate change, the Bank has allocated PKR 1.7 billion to climate financing. Additionally, the Bank's strong commitment to environmentally sustainable practices is evident, with 10% of its branches successfully transitioning to solar power, underscoring its dedication to green initiatives. Also contributing to the Bank's growth is its flagship program, Women Inspirational Network (WIN), which propelled Mobilink Bank to the top of State Bank of Pakistan's (SBP) 'Banking on Equality' Index. The Bank allocated over PKR 12 billion in subsidized financing to 66,000 female borrowers, with plans to increase its female borrowers' portfolio by 50% in the next three years.
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Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and digital services to nearly 160 million customers in six dynamic markets that are home to 7% of the world's population.
In November 2023, Mobilink Banks showcased robust financial performance, with the MSME Gross Loan Portfolio (GLP) contributing PKR 24,395 Mn out of the total GLP of PKR 66,893 Mn. The impressive 84% increase in deposits since the end of 2022, totaling PKR 119,122 Mn, was driven by the growth of core and branchless banking deposits. Core deposits expanded by 58,999 Mn, while branchless banking deposits experienced an increase of 46%, reaching 60,123 Mn.
President and CEO of Mobilink Bank, Ghazanfar Azzam, expressed his satisfaction with the extraordinary impact created by Mobilink Bank and resolved to enhance it manifolds.
"We have experienced a fulfilling year, reinforcing our existing business verticals and venturing into new areas to amplify our impact," shared Ghazanfar Azzam. "Our ambitious development vision for the next three years is geared towards increasing our female customer base and expanding the reach of our climate finance program, promoting economic and environmental sustainability."
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He further expressed, “At Mobilink Bank, gender equity and sustainability will remain focal points as we enter New Year 2024. We believe an equitable and environmentally responsible business approach can generate shared value for businesses and the community. We eagerly anticipate advancing this inclusive growth strategy through collaboration with SBP and other key players in the financial industry. Our commitment to delivering the highest user experience and satisfaction level persists throughout this year and beyond.”
Invigorated by its achievements and customers' extraordinary trust and loyalty, Mobilink Bank commits to going the extra mile to create more value for the economy and society.
*All the numbers in the above release are unaudited.
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