KARACHI: The Board of Directors of easypaisa digital bank (formally Telenor Microfinance Bank Limited), in its meeting dated March 6, 2025, approved the audited financial statements for the year ended December 31, 2024.
easypaisa digital bank demonstrated exceptional growth in 2024, solidifying its position as a leading digital financial services provider in Pakistan. The Bank achieved a pre-tax profit (PBT) of Rs 4.7 billion, a remarkable 3.8x increase compared to Rs 1.2 billion in 2023. This significant growth was achieved alongside substantial expansion in business volumes and monthly active user base, while simultaneously investing in cloud services, technology, and operational enhancements.
The Bank’s financial performance showcased robust growth across key metrics. Revenue surged by 50.8 percent YoY to Rs 38.9 billion, driven by a 59.9 percent increase in net markup income and a 37.6 percent rise in non-markup income. The registered user base surpassed 50 million, with over 16.1 million monthly active users.
Despite increased operating expenses due to business expansion and regulatory compliance, the bank effectively improved its cost-to-income ratio to 80.91 percent from 93.10 percent in 2023. Customer deposits grew by 49.5 percent to Rs 76.2 billion, maintaining strong CASA and CA ratios of 99.9 percent and 83.0 percent. The advances book increased by 53.5 percent YoY to Rs 28.5 billion, with net advances to deposit (ADR) ratio of 33.5 percent. Credit impairment cost increased to Rs 2.5 billion, primarily due to the adoption of IFRS 9 and higher digital lending disbursements. The Bank’s PAR% and coverage ratio stood at 14.0 percent and 75.7 percent.
Talking about the Bank’s performance and future outlook, Jahanzeb Khan, President & CEO, easypaisa digital bank, stated, “easypaisa digital bank will prioritize strategic initiatives to sustain its growth trajectory with the focus on improving trust of our customers as the first Digital Bank operating in Pakistan. These initiatives include the expansion of digital banking services, enhancement of customer experience, strategic partnerships and investments, leveraging data and AI for personalization, operational efficiencies, and ensuring robust regulatory compliance and security. easypaisa digital bank is committed to further strengthening its position as a leader in Pakistan’s digital financial sector.”
Copyright Business Recorder, 2025
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