Pakistan’s leading telecom bank, Mobilink Microfinance Bank Limited (MMBL), has required to register in its most recent Credit Rating Assessments for the Banking sector on 30 April 2021 an extraordinary feat of being Pakistan’s only bank – microfinance and commercial – for ensuring a ‘positive perspective’ rating of its credit from Pakistan Credit Rating Agency (PACRA).
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The bank was also the only microfinance bank in the industry that had a “stable” outlook and had previously achieved a milestone in the Q4/2020 PACRA evaluation. The latest evaluation continues to exclude MMBL from the PACRA watch list, with its short-term credit rating A1/A carried forward from the previous quarter, which includes a long-term credit profile.
In the face of the COVID-19 economic meltdown, MMBL has attributed its extraordinary success to the continuous effort to modernise and diversify its operations.
Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakr, commented on the achievement: “We are committed to focus our attention on market & client opportunities that fits our strategic ambitions for small and medium-sized enterprises and digital enterprises. It allows us to diversify and generate solid recurring income streams supported by a safe portfolio, compliance and risk lending. It is essential to maintain the trust of clients and shareholders.”
Ghazanfar Azzam, President & President, and CEO of Mobilink Bank said: “We are delighted that PACRA has been granted a ‘Positive Outlook’ to all of us, whether micro or otherwise, for these test times. We take heart from the confidence of our customers in us and continue to increase our financial, credit & risk management standards to deliver even more value in the months and years to come.”
MMBL is home to a large digital, financial, and services ecosystem in the country. These products and solutions give millions of users, including women, households, and small- and medium-sized enterprises, easy access to good financial services. The digital ecosystem contributed to MMBL’s anchorage as an innovative and forward-looking financial institution in Pakistan’s financial market. Recently the bank has been successful in Pakistan for nine years.