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On 29th November 2022, Telenor Microfinance Bank (TMB), operator of Pakistan’s leading
digital payments platform Easypaisa, has received US$ 15 million (PKR 3.4 billion) equity
injection from its shareholders Telenor Group and Ant Group. This is the first tranche of a total
investment of US$ 30 million planned by the shareholders to support the latest business plan.
This tranche brings the total equity invested by the shareholders since 2018 to USD 305 million.
The investment has further strengthened the Bank’s capital position and placed the organization
on an upward trajectory to continue its growth in Pakistan’s digital finance space.
Senior management from both Telenor Group and Ant Group visited Pakistan a few weeks
earlier to meet the Leadership team of TMB and reaffirmed their support for the Bank’s future
roadmap.
In pursuit of its mission of creating a financially inclusive and cashless society, TMB has
become the first Bank in Pakistan to successfully roll out a digital-first model. With more than 11
million monthly active users, the platform continues to diversify its offerings and is enabling
customers to use a suite of digital financial services including payments, savings, digital lending,
eliminating the need to physically come to a branch.
Commenting on the development, M. Mudassar Aqil, CEO Telenor Microfinance Bank &
Easypaisa said; “We are thankful to our shareholders for their continuous trust and confidence
in us. The commitment by Telenor Group and Ant Group is evident from the US$ 305 million
investment till date in the business, which is the largest Foreign Direct Investment (FDI) in the
history of Pakistan’s banking sector. This equity injection will allow us to pursue our Digital-First
strategy and make digital financial services accessible to every Pakistani. With more than 11
million monthly active users and growing, together with the largest digital payments platform in
the country, we remain committed to transform Pakistan into a cashless and financially inclusive
society through collaboration and technology.”
Being the leader of the fintech revolution in Pakistan, Telenor Microfinance Bank/Easypaisa is
providing best-in-class services to millions of users across Pakistan. The Bank continues to
work towards financially empowering Pakistanis through a robust portfolio of innovative digital
banking solutions in line with its mission of a financially inclusive Pakistan.
