Mudassar Aqil, the CEO of Telenor Microfinance Bank Limited, has stepped down from his position to pursue a new opportunity abroad. Aqil’s departure comes at a time when the bank is experiencing strong growth and profitability.
Telenor Microfinance Bank recently released its financial results for the first quarter of 2023, reporting a profit of PKR 1.25 billion. This represents a significant increase from the same period last year, when the bank reported a loss of PKR 2.185 billion.
The bank’s strong performance is due to a number of factors, including increased investment in branchless banking and equity injection. Aqil has also been credited with driving innovation and digital transformation at the bank.
Aqil’s departure is a loss for Telenor Microfinance Bank. He was a respected leader who helped to transform the bank into a leading player in the financial technology sector in Pakistan.
The bank’s board of directors has begun the search for a new CEO. The new CEO will need to be a strong leader who can continue the bank’s growth and innovation.
Telenor Microfinance Bank Limited and Easypaisa are committed to providing high-quality financial services to their customers and contributing to the digital transformation of Pakistan’s economy. They will continue to focus on these goals as they transition to a new leadership team.