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.
Also read: Mobilink Bank and Vision-Building Future Collaborate to Address Financial Disparities
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%.
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."
Also read: Mobilink Bank's H1 2023 Financial Results Highlight a 232% Growth in Profit Before Tax
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.