Mobilink Microfinance Bank Posts Strong Financial Results During Q1 2021

Mobilink Microfinance Bank Limited (MMBL), which was Pakistan's major digital bank, reported good financial results in the first quarter of 2021.

In the first quarter of the previous year, MMBL posted a 70 percent growth in net revenues and a sizable increase in profit before tax of 1.390 percent.

From Q4 2020 to good results during the Q1 2021 and finishing on 31 March 2021 the Bank continued its positive momentums. Gross income and net income of Rs. 2,295 billion have been reported and Rs. 1,884 billion recorded.

Despite the continuing COVID-19 pandemic, the Bank's profit before tax stood at Rs. 490 million. At the end of Q1, 2021 the Rs. 27,4 billion gross loan portfolio of MMBL closed with the Rs. 48,8 billion portfolios of deposits.

Chief Finance Officer MMBL, Sardar Mohammad Abubakr, reported on the Bank's performance: "We are on our path through digital microfinance services to revolutionize the financial services landscape in Pakistan."

"Financial success in Q1 2021 reflects our strong performance in Q4 2020 and our strong focus on customer focus, market diversification, and strong value generation for the shareholder," he added. "Through innovative products and services in Pakistan, we are committed to offering the best banking experience for our customers."

The MMBL is committed to supporting financial integration by affecting people's lives, especially women, who are excluded from the financial landscape, even in the farthest parts of the country.

Besides core microfinance service, Mobilink Microfinance Bank has developed customized digital financial products and services, including for rural economies, for companies, households, and small and medium businesses (SMEs).

These products and services allow fast and easy business operations to be carried out and to enhance financial control to help accelerate users' socioeconomic well-being. Recently, the bank has been successful in Pakistan for nine years.