Global digital operator Veon Group says it has reaffirmed its confidence in the growth potential of Pakistan’s microfinance sector and Mobilink Bank, part of the Veon Group, by investing US$15 million in fresh capital to drive the bank’s strategic ambitions.
The capital injection will empower Mobilink Bank to expand its offerings in micro, small, and medium enterprise (MSME) financing, explore Islamic banking, and accelerate its ongoing transition into a technologically advanced, future-ready digital bank.
Mobilink Bank will utilise these funds to optimise its operational capabilities, expand its outreach, and introduce cutting-edge digital products and services to its individual and enterprise customers.
Veon says that as Pakistan’s leading digital microfinance bank, Mobilink Bank is committed to fostering financial inclusion and meeting the evolving needs of its diverse customer base.
With a strong focus on underserved and unbanked segments, Mobilink Bank strives to catalyse economic activity and provide accessible financial solutions to fuel socio-economic development. Veon says its investment also highlights its strategic vision of fostering digital innovation and supporting Mobilink Bank’s mission to be a key player in Pakistan's financial ecosystem.
This commitment aligns with Veon's broader objectives of driving technological advancements and empowering communities through sustainable economic development.
The investment comes at a pivotal time for the banking industry, as the State Bank of Pakistan (SBP) has substantially lowered its policy rate.
