In an
impressive display of commitment to financial inclusion, Mobilink Bank, a part
of the VEON group, has achieved significant growth in loan disbursement and
gross loan portfolio (GLP) for women entrepreneurs and Micro, Small, and Medium
Enterprises (MSMEs) in H1 2023. These accomplishments highlight the bank's
dedication to fostering economic growth and empowering small businesses,
underscoring the effectiveness of their strategies and initiatives.
During the first half of 2023, Mobilink Bank disbursed loans totaling over PKR 4.32 billion to women entrepreneurs, representing an outstanding growth rate of 178% compared to the same period in 2022. The number of women borrowers also witnessed remarkable growth, increasing from 61,242 in 2022 to 68,994 in 2023, a substantial rise of 113%.
The bank's focus on uplifting the MSME sector has yielded exceptional results as well. Mobilink Bank's initiatives in H1 2023 led to the disbursement of over PKR 11.63 billion to MSMEs, showcasing a remarkable growth rate of 198% compared to the same period in 2022. The number of MSME borrowers also experienced a significant surge, with disbursements increasing from 23,173 in 2022 to 34,000 in 2023, reflecting a growth of 147%.
Ghazanfar Azzam, President and CEO of Mobilink Bank, expressed pride in the bank's accomplishments, emphasizing their dedication to empowering women entrepreneurs and bolstering the MSME sector. Azzam stated that these achievements serve as a testament to their commitment to enabling individuals and businesses to unleash their true potential, while Atta-ur-Rehman, Chief Branch Business Officer, highlighted the bank's commitment to inclusive economic growth and empowering diverse segments of
society.
Mobilink Bank's outstanding performance extends beyond financial figures, positioning it as a leader in bridging the gender divide and topping the Banking on Equality Scorecard released by the State Bank of Pakistan. Through tailored digital and financial solutions, the bank drives economic progress, creates opportunities, and accelerates social development, ultimately empowering the unbanked and underbanked to thrive and prosper.
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