Mobilink Bank (MMBL) released its financial results for the first quarter of 2023, demonstrating strong business resilience in the face of difficult economic conditions. The bank’s unaudited financial statements show a staggering 48% increase in revenue.
Mobilink Bank’s strong emphasis on digital banking services enabled it to reach previously underserved communities and generate significant revenue growth, while its Branchless Banking (BB) network expanded rapidly.
In the first quarter of 2023, the Bank experienced a 61% year-over-year (YoY) increase in BB revenue.
The average loan ticket at MMBL also increased significantly year on year, increasing by up to PKR 288,000. In Q1 2022, the bank disbursed loans with an average ticket size of PKR 203K, representing a 42% increase over the same period last year.
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MMBL’s Pre-tax Profitability (PBT) increased by 298% in Q1 2023 compared to the same period the previous year.
Ghazanfar Azzam, President & CEO MMBL, commented on the bank’s performance, saying, “The remarkable revenue growth in the first quarter of this year is a testament to the Bank’s strong performance across all business verticals.” We have worked hard to achieve our goals, which include providing innovative and inclusive digital financial solutions to a diverse customer base.”
“However, none of this would be possible without our customers’ unwavering support and trust in us.” As Mobilink Bank enters the second quarter, we remain committed to providing innovative banking solutions to all of our customers while also contributing to the economy’s growth and development.”
The bank’s core revenue increased by 31% year on year. The success of MMBL can be attributed to its customer-centric banking approach, which focuses on seamless and user-friendly banking services.
Mobilink Bank has improved its customer satisfaction index while also contributing significantly to the bank’s overall performance by prioritising its customers’ growing financial needs.
The Bank’s success serves as an example to other businesses, demonstrating how a single-minded focus on customer satisfaction and financial inclusion can lead to long-term growth and profitability.
To advance its financial inclusion objectives, MMBL has established strategic partnerships with various stakeholders, including the Swiss Capacity Building Facility (SCBF) and CARE International in Pakistan.
Through these strategic alliances, the Bank has been able to leverage its digital banking and financial expertise to create innovative products and services that address the specific needs of disadvantaged and marginalised communities.
MMBL strives to provide convenient and dependable banking services to millions of unserved and underserved people across Pakistan through its simple and accessible digital and financial services portfolio.
