KARACHI: Mobilink Microfinance Bank Limited (MMBL) has announced unaudited financial results for the third quarter of the current financial year ended September 30th, 2021. MMBL stayed on track and powered through the third quarter reporting 53 percent growth in total revenue.
The bank's Profit Before Tax (PBT) increased three folds in comparison to the corresponding quarter of 2020.
MMBL's average loan ticket stood strong at Rs 177,000 during the third quarter of 2021, while the microfinance industry average remained at approximately Rs 50,000, testifying to the benefits of having a diversified business model.
The core banking's total growth in revenue increased by 35 percent while branchless banking revenues escalated by 40 percent in the third quarter. MMBL's PBT of both core and branchless banking grew by 25 percent and 326 percent respectively.
Commenting on the bank's performance, Ghazanfar Azzam, President & CEO MMBL said: "This has been a successful quarter for MMBL. The Bank has experienced significant growth as compared to Q3 of 2020 and all key financial indicators have trended upward during the period.
The positive performance of MMBL is mirrored by significant growth in the Bank's revenue. MMBL's resilient performance also reflects strongly on its aims and objectives - to invest in technology and innovation and to provide opportunities to all segments of the society while focusing on making Pakistan a financially empowered country.
Heading into the fourth quarter, MMBL is well-positioned to close the year with strong financials, reinforcing its firm commitment to include maximum people in the financial landscape of Pakistan."
Copyright Business Recorder, 2021
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