Investor Confidence: Veon Group injects USD 15 million in Mobilink Bank to fuel growth and tech advancement

Global digital operator VEON Group has reaffirmed its confidence in the growth potential of Pakistan’s microfinance sector and Mobilink Bank by investing USD 15 million in fresh capital. This investment aims to drive the bank’s strategic ambitions, fueling its future growth and technological advancements.

Expanding MSME Financing and Islamic Banking

The fresh capital injection will empower Mobilink Bank to expand its offerings in Micro, Small, and Medium Enterprise (MSME) financing and explore opportunities in Islamic banking. This move aligns with the bank’s objective to accelerate its transition into a technologically advanced, future-ready digital bank.

Optimizing Operational Capabilities for Financial Inclusion

Mobilink Bank, as Pakistan’s leading digital microfinance bank, is committed to fostering financial inclusion. The investment comes at a crucial time for the banking industry, as the State Bank of Pakistan (SBP) has significantly lowered its policy rate, aiding economic stability and growth. The bank plans to use these funds to optimize operational capabilities, expand outreach, and introduce cutting-edge digital products and services for both individual and enterprise customers.

Serving Underserved and Unbanked Segments

Mobilink Bank’s focus remains on underserved and unbanked segments. By providing accessible financial solutions, the bank aims to fuel socio-economic development and catalyze economic activity in the region. VEON Group’s investment underscores its strategic vision to foster digital innovation and support Mobilink Bank’s mission to become a key player in Pakistan’s financial ecosystem.

VEON’s Strategic Vision and Commitment

VEON Group’s commitment to Mobilink Bank aligns with its broader objectives of driving technological advancements and empowering communities through sustainable economic development. The investment is a testament to VEON’s confidence in Mobilink Bank’s ability to drive digital innovation and financial inclusion in Pakistan.

Leadership Statements on the Investment

Aamir Ibrahim, Chairman of Mobilink Bank and CEO of Jazz, expressed gratitude for the investment: “This capital infusion of USD 15 million by VEON underscores their steadfast confidence in Mobilink Bank’s vision and trajectory. It empowers us to expand our portfolio and drive growth in MSME financing, Islamic banking, and technology-driven operations.”

Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank, added, “VEON’s investment signifies the solid confidence our parent company places in Mobilink Bank’s capability to lead the fintech revolution in Pakistan. This strategic investment will advance our goals of promoting MSME growth, expanding into Islamic banking, and enhancing our digital capabilities.”

Mobilink Bank’s Vision for the Future

VEON’s investment marks the beginning of a transformative era for Mobilink Bank, reinforcing its mission to advance financial inclusion and social mobility. With over 20 million monthly active users and a network of 400,000+ touchpoints, the bank is committed to inclusivity, technological innovation, and customer-centricity. Mobilink Bank also holds a strong dedication to socio-economic and environmental progress.

VEON Group’s Global Footprint

Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and digital services to nearly 160 million customers in six dynamic markets that are home to 7% of the world’s population.

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