Karachi February 8 2022: The State Bank of Pakistan has granted in-principle approval to United Bank Limited to commence the Due Diligence of Telenor Microfinance Bank Limited (“TMB”) for proposed acquisition of 55 percent sponsor shares in TMB, currently held by Telenor Pakistan BV (operating under the Easypaisa brand name), subject to the compliance with the applicable laws, rules, regulations.
TELENOR MICROFINANCE BANK LTD We are the first scheduled microfinance bank of Pakistan that is designed to operate as a fintech. Our aim is to promote financial inclusion by empowering all Pakistanis to adapt convenient and secure digital financial solutions through our flagship digital payments platform Easypaisa.
A L S O || R E A D
Telenor Microfinance Bank is jointly owned by Telenor Group the leading telecommunications company across Scandinavia and Asia with 174 million customers, and Ant Group, operator of the world’s leading payment and lifestyle platform Alipay that’s also an affiliate company of Alibaba Group.
TMB began their journey in 2005 by establishing a national footprint with the launch of micro-lending programs. In 2009, we created history by launching Pakistan’s first mobile banking platform Easypaisa that revolutionized peer to peer payments in the country.
Today, with a distribution network of over 170 thousand registered touchpoints nationwide, we are one of the major players in the country’s financial landscape, providing a range of innovative banking solutions and related financial services to the underprivileged and unbanked segments of the country.
