165 percent profit has been realized by Mobilink Microfinance Bank in an outstanding annual growth.
As the leading microfinance bank in the country, Rs.612 million profits were made in the year 2017 compared to Rs.230 million in the year 2016, according to reports.
In absolute terms, the profit of Mobilink microfinance is more than Telenor Microfinance bank but lower in terms of percentage. Rs.416 million was realized by Telenor Microfinance bank in the year 2017. U Microfinance made profits of Rs.253 million in years 2017, registering an increase of 353 percent.
With 38% returns on shareholders’ equity, the Mobilink microfinance results were very productive.
With the mix of collateralized and uncollateralized products the loan portfolio of the bank also exhibited steady growth and also asset quality was efficiently maintained with 0.31 categorized as non-performing out of the total portfolio.
According to the reports, 45% increase in growth of deposits and 69% growth in loan books were achieved compared to last year. Value of deposits reached Rs.14.9 billion by year-end 2017, while gross loans stood at Rs.10 billion.
With the network of 61 branches and 73,820 branchless banking locations, the bank is operating successfully. And with over 15 million mobile wallets, Mobilink microfinance is among largest branchless banks of Pakistan.
