Islamabad: Mobilink Bank achieved several financial milestones in 2023 and consolidated its position in the banking industry. With revenues of PKR 41,053 million, a 72% growth over the previous year, the bank’s performance underscores its commitment to excellence and innovation, particularly in supporting women and small and medium enterprises (SMEs). Mobilink Bank’s commitment to diversity, equity and inclusion (DEI) is exemplified through its flagship initiative, the Women Inspirational Network (WIN) and the MobilinkHER Women Returnship Program, which have proven to be catalysts for change. Through WIN, the bank has empowered more than 5,000 women entrepreneurs with essential digital and business skills, while the MobilinkHER Women Returnship Program has successfully onboarded eight (8) women who had career breaks, demonstrating its commitment to uplifting women in the workforce.
The bank’s DEI efforts have received recognition from key organizations, including the State Bank of Pakistan (SBP), which ranked Mobilink Bank first in its Banking on Equality (BOE) scorecard. VEON Group also named the bank as a DEI Champion, highlighting its commitment to promoting positive change.
VEON is a global digital operator providing converged connectivity and digital services to nearly 160 million customers in six dynamic markets, home to 7% of the world’s population.
In 2023, the bank recorded a year-on-year increase in the loan portfolio by 31% and 84% in the portfolio of client deposits. This growth is proof of the bank’s commitment to offering affordable financial solutions to individuals and businesses, promoting economic growth and prosperity.
Aamir Ibrahim, Chairman, Mobilink Bank, congratulated the bank’s management for another year of strong performance and highlighted their joint efforts in redesigning Pakistan’s financial landscape. He highlighted that in the last decade, Mobilink Bank has worked to facilitate one of the world’s largest unbanked populations. The bank’s innovative and convenient financial solutions have proven to be game-changing for Pakistan’s underserved communities and will continue to play a key role in the country’s sustainable economic growth and social progress.
Ghazanfar Azzam, President and CEO of Mobilink Bank also shared his thoughts, “In line with our commitment to DEI, we are steadfast in our efforts to empower women and SMEs through inclusive digital and financial products. Initiatives like WIN and MobilinkHER underscore our commitment to improving our services to meet the needs of our community while promoting financial inclusion. In the coming year, we will further strengthen our efforts to expand access and deepen outreach programs tailored to women and young entrepreneurs, focusing on increasing digital and financial literacy, green finance and sustainability on all fronts. We aim to increase our number of depositors to 250,000, dedicate 30% of our loan portfolio to women, upskill 15,000 women in financial and digital literacy and increase our solar financing to PKR 2.5 billion by the end of 2024.”
In 2023, Mobilink Bank demonstrated growth in its branchless banking network reaching 239,252 agents while maintaining 109 branches. The base of active borrowers increased to 3,243,354, indicating better financial availability. In addition, the bank recorded a 31% increase in gross loan portfolio and a 5.24% increase in depositors, consolidating its position in the banking sector.
