Telenor Microfinance Bank independent of Telenor Pakistan's acquisition by PTCL

MG News | December 17, 2023 at 08:15 PM GMT+05:00

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December 17, 2023 (MLN): In response to Telenor Pakistan's acquisition by Pakistan Telecommunication Company Limited (PSX: PTC), Telenor Microfinance Bank Limited (TMB) has clarified through its latest social media post that TMB and its flagship platform, easypaisa, are not part of this transaction.

The entity has ensured customers that their deposits are completely secure, and this development will not impact them in any way.

TMB and easypaisa is an independent financial institution, licensed and governed by the State Bank of Pakistan (SBP).

TMB is a joint venture between Telenor B.V. and Ant Group, who are committed shareholders, dedicated to the Bank's ongoing transformation from a Microfinance Bank to a Digital Retail Bank, subject to regulatory approvals.

Moreover, TMB has urged its customers to disregard any unsubstantiated rumors and continue to trust in its commitment to maintaining the highest standards of service and security.

"We remain committed to working towards our mission of a financially inclusive, digital Pakistan," it further added.

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