Mobilink Bank Reports 48% Revenue Growth in Q1 2023
Mobilink Bank Reports 48% Revenue Growth in Q1 2023
Mobilink Bank Reports 48% Revenue Growth in Q1 2023
Mobilink Bank Reports 48% Revenue Growth in Q1 2023

Mobilink Bank (MMBL) has announced its financial results for the first quarter of 2023, revealing an impressive 48% increase in revenue despite challenging economic conditions. The bank’s unaudited financial statements also show a remarkable YoY increase of 61% in revenue generated from its Branchless Banking (BB) network, which is a testament to the bank’s strong emphasis on digital banking services.

Read More: Shell Pakistan announces financial results for Q1 2023

As part of the VEON group, a global digital operator providing online services and connectivity across seven countries, Mobilink Bank is committed to transforming lives and driving economic growth in countries that are home to over 8% of the world’s population.

In addition to its revenue growth, the bank has also reported a 42% increase in average ticket size, with loans averaging PKR 288,000 granted in Q1 2023. Furthermore, the bank’s Profit Before Tax (PBT) increased by 298% compared to the same period in the previous year.

Ghazanfar Azzam, President & CEO of MMBL, attributed the bank’s strong performance to its persistent efforts towards achieving its objectives of providing innovative and inclusive digital financial solutions to a diverse customer pool. Azzam also expressed his gratitude to the bank’s customers for their unwavering support and confidence in the bank.

MMBL’s success is attributed to its customer-centric banking approach, which emphasizes seamless and user-friendly banking services. By prioritizing the growing financial needs of its customers, Mobilink Bank has not only improved its customer satisfaction index but also contributed significantly to the bank’s overall performance. The bank’s commitment to financial inclusion is evident in its strategic partnerships with various stakeholders, including the Swiss Capacity Building Facility (SCBF) and CARE International in Pakistan.

Through its accessible and reliable digital and financial services portfolio, MMBL aims to provide convenient banking services to millions of unserved and underserved people across Pakistan. The bank’s success serves as an inspiration to other organizations, demonstrating how undivided focus on customer satisfaction and financial inclusion can lead to sustained growth and profitability.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the best deals on our WordPress themes.

You May Also Like

Dubai’s Crypto Market and the Challenges: The Cryptoverse Responds to Global Changes

Dubai’s crypto market has been significantly influenced by the evolving global regulatory…

LUMS Energy Institute hosts seminar on advancing Pakistan’s Energy Sector

Pakistan’s prestigious institution, LUMS, recently organized a seminar focused on addressing the…

Citizens Lodge Financial Fraud Cases Against AAA Associates

Two citizens file financial fraud cases against AAA Associates’ Managing Director, Lieutenant…

Telenor Microfinance Bank Future Uncertain After PTCL Telenor Merger

The recent merger of Telenor Pakistan with PTCL has sent shockwaves through…