Islamabad, March 15, 2025: The Board of Directors of Easypaisa Digital Bank (formerly Telenor Microfinance Bank Limited) approved the audited financial statements for the fiscal year ending December 31, 2024, during a meeting held on March 6, 2025.
Easypaisa Digital Bank recorded exceptional financial progress in 2024, reinforcing its status as a premier provider of digital financial services in Pakistan.
The bank reported a pre-tax profit (PBT) of PKR 4.7 billion, marking an extraordinary 3.8 times increase from PKR 1.2 billion in 2023.
This impressive expansion was complemented by substantial growth in transaction volumes and an increasing number of monthly active users,
while concurrently making strategic investments in cloud technology, infrastructure, and operational efficiencies.
The financial results highlighted strong performance across key indicators.
Total revenue surged by 50.8% year-over-year to PKR 38.9 billion, driven by a 59.9% rise in net markup income and a 37.6% growth in non-markup earnings.
The bank’s registered user base exceeded 50 million, with over 16.1 million active users each month.
Despite a rise in operational expenditures due to business expansion and regulatory adjustments, the institution successfully enhanced its cost-to-income ratio, improving from 93.10% in 2023 to 80.91% in 2024.
Customer deposits expanded by 49.5% to PKR 76.2 billion, maintaining robust CASA and CA ratios of 99.9% and 83.0%, respectively.
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The loan portfolio increased by 53.5% year-over-year, reaching PKR 28.5 billion, with a net advances-to-deposit (ADR) ratio of 33.5%.
The cost of credit impairment rose to PKR 2.5 billion, primarily attributed to the implementation of IFRS 9 and the rising demand for digital lending.
The bank’s Portfolio at Risk (PAR) stood at 14.0%, with a coverage ratio of 75.7%.
Discussing the bank’s performance and future direction, Jahanzeb Khan, President & CEO of Easypaisa Digital Bank, remarked, “Easypaisa Digital Bank is committed to driving sustainable growth by reinforcing customer trust as Pakistan’s pioneering digital bank.
However, our strategic roadmap includes expanding digital financial solutions, enhancing user experience, fostering partnerships, integrating AI-driven personalization, optimizing operational efficiency, and ensuring stringent regulatory compliance and cybersecurity measures.”
Amin Sukhiani, Chief Financial Officer of Easypaisa Digital Bank, emphasized the significance of these financial achievements, stating, “Reaching 50 million registered users and achieving a 50% increase in customer deposits underscores the confidence our customers place in the Easypaisa brand.
Our strategy to scale digital lending while maintaining prudent risk management has fueled profitability and preserved a strong capital adequacy ratio.”
Although, In January 2025, Easypaisa Digital Bank became the first institution in Pakistan to secure a Digital Retail Bank License, marking a milestone in the country’s financial landscape.
However, this regulatory approval empowers Easypaisa to expand its offerings, including deposit accounts, credit services, digital loans, investment solutions, and insurance products.
