Pakistan, May 4 -- Telenor Microfinance Bank (TMB) announced exceptional financial performance for the first quarter of 2024 (Q1'24). The Bank reported an impressive profit before tax of PKR 1.03 billion during Q1'24 compared to a loss before tax of PKR 185 million reported for the same period last year, solidifying its position as a pioneering force in the fintech landscape of Pakistan.
During Q1'24, customer deposits surged to PKR 63.26 billion, an increase of 29.6% from March 31, 2023, while the advances book increased to PKR 19.15 billion, registering a YoY growth of 53.5%. TMB also maintained a robust Capital Adequacy Ratio (CAR) of 22.8%, well above the regulatory requirements. The achievement is a testament to TMB's ability to scale...