Mobilink Bank leads the way in empowering women entrepreneurs
Mobilink Bank has marked a momentous milestone in its pursuit of
financial inclusion and support for small businesses, particularly women-led
enterprises and Micro, Small, and Medium Enterprises (MSMEs). The bank's H1
2023 results showcase significant growth in Loan Disbursement and Gross Loan
Portfolio (GLP) in these crucial sectors, highlighting the effectiveness of its
strategic initiatives.
As part of the VEON group, a global digital operator offering
converged connectivity and online services in seven countries, Mobilink Bank is
championing transformation in people's lives and creating avenues for digital
inclusion and economic growth in regions housing over 8% of the world's
population.
During the first half of 2023, the bank disbursed loans
exceeding PKR 4.32 billion to women entrepreneurs, representing an impressive
growth rate of 178% compared to the same period in 2022 when PKR 2.42 billion
was disbursed. This remarkable increase underscores the bank's success in
attracting and nurturing talented women entrepreneurs, with the number of women
borrowers growing from 61,242 in 2022 to 68,994 in 2023, reflecting a
noteworthy growth of 113%.
Mobilink Bank's commitment to uplifting the MSME sector has also
yielded remarkable results, as demonstrated by the disbursement of over PKR
11.63 billion to MSMEs in H1 2023, compared to PKR 5.88 billion in 2022,
achieving an impressive growth rate of 198%. The number of MSME borrowers has
also seen a significant rise, 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
his pride in the bank's remarkable growth, stating, "We are immensely
proud of the growth we have achieved this year. Our commitment to empowering
women entrepreneurs and supporting the MSME sector has led to exceptional
outcomes, fostering inclusive economic progress. These figures serve as a
testament to our dedication to enabling individuals and businesses to reach
their full potential. We will continue with the same enthusiasm to create
growth opportunities for everyone."
Atta-ur-Rehman, Chief Branch Business Officer of Mobilink Bank,
added, "The resounding success of our bank exemplifies our unwavering
commitment to driving inclusive economic growth and empowering diverse segments
of society. With the vision of empowering women and MSMEs, we are prepared to
take all necessary steps to ensure inclusion in the financial sphere."
Beyond financial achievements, Mobilink Bank has emerged as a
key player in bridging the gender divide, earning the top spot in the Banking
on Equality Scorecard released by the State Bank of Pakistan. By prioritizing
women entrepreneurs and MSMEs, the bank drives economic progress, creates
opportunities, and accelerates social development. Its tailored digital and
financial solutions pave the way for the unbanked and underbanked, enabling
them to thrive and prosper.