Telenor Microfinance Bank (TMB) has reported exceptional financial performance for the first half of 2024, achieving a profit before tax of Rs. 2.6 billion, a staggering 788 percent increase compared to the same period last year. This remarkable growth has solidified TMB’s position as a leading force in Pakistan’s fintech landscape.
Customer deposits and advances have also demonstrated impressive growth. Deposits reached Rs. 67.0 billion, up by 21 percent from the previous year, while advances climbed to Rs. 22.9 billion, growing by 59 percent. The Bank has also maintained a robust Capital Adequacy Ratio (CAR) of 26.9 percent.
TMB’s flagship digital financial services platform, Easypaisa, has continued to expand its user base. With over 15 million monthly active users, Easypaisa has become one of the leading financial services apps in Pakistan. The platform has also been recognized internationally for its innovative features, winning awards at prestigious events such as the MADSTARS Awards Korea and the Caples Awards UK.
TMB’s commitment to innovation extends beyond its digital platforms. The Bank has launched several new products and services, including the Easypaisa Karobar Ecosystem for retailers and FMCGs, and an enhanced credit score feature on the Easypaisa app. TMB has also been investing in its physical infrastructure, transforming branches into Smart Branches and upgrading its core technology.
As TMB continues to grow and evolve, it remains committed to providing innovative financial solutions and empowering individuals and businesses across Pakistan. The Bank’s strong financial performance and focus on digital innovation position it well for future success.