ISLAMABAD: Mobilink Bank has achieved significant growth in Loan Disbursement and Gross Loan Portfolio (GLP) in two crucial sectors – Women and Micro, Small, and Medium Enterprises (MSMEs), as evidenced by its H1 2023 results.
These accomplishments underscore the Bank’s dedication to promoting financial inclusion and supporting the expansion of small businesses, further validating the effectiveness of its strategies and initiatives implemented in the past year.
Mobilink Bank, a part of the VEON group, a global digital operator offering converged connectivity and online services in seven countries, is driving transformation in people’s lives and creating opportunities for greater digital inclusion and economic growth in countries that house over 8% of the world’s population.
In the first half of 2023, the Bank disbursed loans exceeding PKR 4.32 billion to women entrepreneurs, reflecting a growth rate of 178% compared to the same period in 2022 when PKR 2.42 billion was disbursed. This noteworthy increase highlights the Bank’s success in attracting and nurturing talented women, as the number of women borrowers grew from 61,242 in 2022 to 68,994 in 2023, an impressive growth of 113%.
Mobilink Bank’s efforts to uplift the MSME sector also yielded remarkable results, demonstrating 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 (compared to 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 increased, with disbursements rising from 23,173 in 2022 to 34,000 in 2023, reflecting a growth of 147%.
Ghazanfar Azzam, President and CEO of Mobilink Bank, expressed his pride in the Bank’s remarkable growth, stating, “We are immensely proud of the growth we have achieved this year. Our commitment to empowering women entrepreneurs and supporting the MSME sector has led to exceptional outcomes, fostering inclusive economic progress. These figures serve as a testament to our dedication to enabling individuals and businesses to reach their full potential. We will continue with the same enthusiasm to create growth opportunities for everyone.”
Atta-ur-Rehman, Chief Branch Business Officer of Mobilink Bank, added, “The resounding success of our bank exemplifies our unwavering commitment to driving inclusive economic growth and empowering diverse segments of society. With the vision of empowering women and MSMEs, we are prepared to take all necessary steps to ensure inclusion 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 surpassing other banks by ranking first in 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 tailored digital and financial solutions, the Bank paves the way for the unbanked and underbanked, enabling them to thrive and prosper.
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