Easypaisa digital bank posts pre-tax profit of PKR 4.7 billion in 2024

easypaisa digital bank (formally Telenor Microfinance Bank Limited) a pre-tax profit of PKR 4.7 billion ($16.7 million) for the year ended December 2024, a 3.8x increase from PKR 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.

Chief Financial Officer Amin Sukhiani said expansion in digital lending and effective risk management drove substantial growth in profitability and maintained a strong capital adequacy ratio.

Revenue surged by 50.8% to PKR 38.9 billion, driven by a 59.9% increase in net markup income and a 37.6% rise in non-markup income. The registered user base surpassed 50 million, with over 16.1 million monthly active users.

“Surpassing 50 million registered users and achieving 50% growth in customer deposits reflects the trust placed in the easypaisa brand,” Sukhiani said.

The bank effectively improved its cost-to-income ratio to 80.91% from 93.10% in 2023. Customer deposits grew by 49.5% to PKR 76.2 billion, maintaining strong CASA and CA ratios of 99.9% and 83.0%.

The advances book increased by 53.5% to PKR 28.5 billion, with net advances to deposit (ADR) ratio of 33.5%. Credit impairment cost increased to PKR 2.5 billion, primarily due to the adoption of IFRS 9 and higher digital lending disbursements.

Jahanzeb Khan, President & CEO, easypaisa said the bank will focus on expanding digital banking and forming strategic partnerships, along with optimizing operations and maintaining regulatory compliance.

“easypaisa digital bank is committed to further strengthening its position as a leader in Pakistan's digital financial sector”.

In January 2025, easypaisa digital bank received the first Digital Retail Bank License in Pakistan. This license allows easypaisa to expand its services, offering deposit accounts, credit cards, digital loans, investment opportunities, and insurance products.