Telenor Microfinance Bank (TMB) reported a remarkable turnaround for the year ended December 31, 2023, with a pre-tax profit of PKR 1.2 billion. This achievement coincides with the Bank’s successful journey towards becoming a digital retail bank, further solidifying its commitment to financial inclusion in Pakistan.
The impressive performance was driven by a 70% year-over-year revenue growth to PKR 28 billion. TMB’s flagship digital platform, easypaisa, also witnessed significant growth, serving over 13.2 million monthly active users and processing over 2.1 billion transactions in 2023.
“Our digital-first strategy has yielded remarkable results,” said Kashif Ahmed, Acting President & CEO, TMB. “We are excited to transition into a digital retail bank and empower all Pakistanis with innovative financial solutions.”
The Bank’s transformation is subject to final regulatory approvals. With a robust balance sheet and focus on sustainable growth, TMB remains committed to shaping the future of digital banking in Pakistan.
