Easypaisa Digital Bank sees 3.8x profit growth in one year

March 17, 2025 (MLN): Easypaisa Digital Bank reported a pre-tax profit (PBT) of Rs4.7 billion in 2024, reflecting a remarkable 3.8x increase from Rs1.2bn in 2023.

This substantial growth was driven by an expansion in business volumes and monthly active users, alongside significant investments in cloud services, technology, and operational improvements.

The bank demonstrated strong financial performance across key metrics.

Revenue grew by 50.8% year-on-year to Rs38.9bn, fueled by a 59.9% rise in net markup income and a 37.6% increase in non-markup income.

The registered user base exceeded 50 million, with over 16.1m monthly active users.

Despite rising operating expenses due to business expansion and regulatory compliance, the bank successfully reduced its cost-to-income ratio to 80.91% from 93.10% in 2023.

Customer deposits surged by 49.5% to Rs76.2bn, maintaining a CASA ratio of 99.9% and a CA ratio of 83.0%.

The advances book expanded by 53.5% year-on-year to Rs28.5bn, with a net advances-to-deposit (ADR) ratio of 33.5%.

Credit impairment costs rose to Rs2.5bn due to the implementation of IFRS 9 and increased digital lending disbursements.

The bank’s PAR% and coverage ratio stood at 14.0% and 75.7%, respectively, as per the press release.

Jahanzeb Khan, President & CEO of Easypaisa Digital Bank, highlighted the bank’s commitment to sustaining its growth by enhancing customer trust as Pakistan’s first digital bank.

He emphasized initiatives such as expanding digital banking services, improving customer experience, forming strategic partnerships, leveraging data and AI for personalization, ensuring operational efficiencies, and maintaining robust regulatory compliance and security.

Amin Sukhiani, Chief Financial Officer of Easypaisa Digital Bank, noted that surpassing 50m registered users and achieving 50% growth in customer deposits demonstrated the trust in the Easypaisa brand.

He credited the bank’s strategic focus on digital lending expansion and effective risk management for its strong profitability and solid capital adequacy ratio.

In January 2025, Easypaisa Digital Bank secured Pakistan’s first Digital Retail Bank License, marking a milestone in the country's financial sector.

This license enables Easypaisa to broaden its services, including deposit accounts, credit cards, digital loans, investment opportunities, and insurance products.

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