Islamabad: Pakistan's leading digital microfinance bank, Mobilink Bank, has secured the prestigious title of 'Best Digital Banking Services' (Microfinance Category) at the 21st Annual Excellence Awards hosted by CFA Society Pakistan. This marks the Bank's second consecutive win, claiming the same honor last year, solidifying its position as a leader in digital banking innovation.
In 2024, Mobilink Bank witnessed a 56% growth across its digital channels. Monthly transactions via its digital platforms now exceed PKR 20 billion, representing a 50% increase. Additionally, PKR 4.5 billion has been booked through the Dost app in loans, reflecting an impressive 422% growth. The bank also takes pride in being the only microfinance bank offering real-time AI-based account opening through its Dost App.
Boasting a customer base of 44 million, including 30% women, Pakistan's leading fintech JazzCash achieved an 83% YoY service revenue surge driven by a Gross Transaction Value of PKR 7.4 trillion in Q2 2024. JazzCash's extensive network, comprising 252,000 registered agents and over 357,000 merchants, facilitated considerable digitalization of society and payment/loan services, effectively transforming Pakistan's financial landscape.
Haaris Mahmood Chaudhary, Interim CEO Mobilink Bank, highlighted, "Our innovative digital offerings embody our vision of a future-ready bank, tailored to meet the evolving needs of our customers. Our consumer app - Dost, not only addresses market gaps but also paves the way for the future of financial services. Introducing the 'Inheritance Calculator,' an industry-first tool within the app, further strengthens our commitment to empowering individuals, particularly women, through technology. This recognition by CFA Society Pakistan boosts our confidence further to steer closer to our mission of digital and financial inclusion for all."
The Bank also demonstrated its strong commitment to gender equality and financial inclusion by topping the State Bank of Pakistan's Women Friendliness Grid scorecard. The score highlights Mobilink Bank's dedicated efforts to advance gender equity and support women, especially within the Micro, Small, and Medium Enterprises (MSME) sector.
Looking ahead, the Bank is committed to transforming the microfinance sector with its advanced digital solutions. By offering premium financial services, Mobilink Bank strives to reach remote and underserved areas where formal banking is inaccessible. This approach improves financial access, particularly for women who are frequently excluded from traditional systems.
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.
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