Mobilink Microfinance Bank Limited (MMBL) has made a quarterly profit before tax of Rs. 490 million during the first quarter of 2021.
MMBL recorded a 70% increase in Net Revenues and a whopping 1,390% increase in Profit Before Tax in Q1, 2021 against the corresponding quarter of the last year.
The bank continued its positive momentum from Q4, 2020 to post healthy financial results during Q1, 2021 ending on March 31st, 2021. It recorded Gross Revenues &Net Revenues of PKR 2.295b and PKR 1.884 b respectively and its Profit Before Tax peaked at PKR 490 m despite the economic slowdown caused by the ongoing COVID-19 pandemic. As of the end of Q1, 2021, MMBL’s Gross Loan Portfolio closed at PKR 27.4b while the Deposits Portfolio stood at PKR 48.8b.
MMBL is committed to promote financial inclusion for all by touching upon the lives of millions of people, even in the remotest parts of the country, particularly women many of whom are excluded from the financial landscape. Besides its core micro-financing services, Mobilink Microfinance Bank has introduced customized digital financial products and services for businesses, households, and small and medium enterprises (SMEs) including those operating in rural economies. These products and services facilitate swift and convenient business operations and allow greater control over financial choices to catalyze the socio-economic wellbeing of the users. The bank has recently completed 9 years of successful operations in Pakistan.