KARACHI: March 6, 2025 – The Board of Directors of easypaisa Digital Bank (formerly Telenor Microfinance Bank Limited) has approved the audited financial statements for the year ending December 31, 2024, reflecting robust growth and record profitability.
easypaisa Digital Bank reported a pre-tax profit (PBT) of Rs 4.7 billion in 2024, marking a 3.8x increase from Rs 1.2 billion in 2023. This exceptional financial performance was driven by significant growth in business volumes and an expanding monthly active user base, alongside strategic investments in cloud services, technology, and operational enhancements.
Strong Financial Performance
The Bank’s revenue surged by 50.8 percent year-on-year (YoY) to Rs 38.9 billion. Net markup income increased by 59.9 percent, while non-markup income rose by 37.6 percent. The customer base crossed 50 million registered users, with over 16.1 million monthly active users.
Despite increased operating expenses due to business expansion and regulatory compliance, the Bank 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 a Current Account and Savings Account (CASA) ratio of 99.9 percent and a Current Account (CA) ratio of 83.0 percent.
The Bank’s advances book increased by 53.5 percent YoY to Rs 28.5 billion, with a net advances-to-deposit ratio (ADR) of 33.5 percent. Credit impairment costs rose to Rs 2.5 billion, attributed to the adoption of IFRS 9 standards and higher digital lending disbursements. The Bank reported a Portfolio at Risk (PAR) of 14.0 percent and a coverage ratio of 75.7 percent.
Future Outlook
Jahanzeb Khan, President & CEO of easypaisa Digital Bank, highlighted the Bank’s commitment to sustaining its growth trajectory and enhancing customer trust as Pakistan’s first digital bank.
“We will continue to prioritize strategic initiatives focused on expanding digital banking services, improving customer experience, forming strategic partnerships, and leveraging data and AI for personalized services,” Khan stated. “Our emphasis will remain on operational efficiencies, regulatory compliance, and maintaining the highest standards of security.”
easypaisa Digital Bank aims to further strengthen its leadership position in Pakistan’s digital financial landscape through continued innovation and customer-centric strategies.
