Branchless Banking Transactions Reach Historic Record: SBP

Branchless Banking (BB) industry showed growth in key indicators during the quarter Oct-Dec 2016, said a State Bank report published today.

Report said that the number of transactions, number of accounts and average deposits per account rose by 21.5%, 18% and 17%, respectively compared to previous quarter.

During the current quarter, BB transactions grew to 133.7 million and were valued at Rs. 596.9 billion, which is 21% higher in volume and 14.8% higher in value compared to the previous quarter.

The numbers of BB accounts have also increased to 19.9 million in the quarter Oct-Dec 16.

Similarly, number of Agents of the BB industry grew by 2.2% during the quarter, reaching 359,806 by the end of current quarter. The share of agents in the market continues to be dominated by Easypaisa (30%), Jazzcash (19%) and UBL Omni by (12%).

The penetration of BB players has been observed in all provinces and regions including remote areas. Now, BB service providers need to develop business strategies in line with demographic and geographic requirements of the country especially to reach out to financially un-served areas. In this regard, players are required to diversify their agent network in areas where access to financial services is limited.

In terms of gender representation, the number of female customers having BB accounts increased to 4.1 million (21%), out of 19.9 million BB accounts at the end of current quarter.

Source: SBP

Branchless Banking Transactions

BB Accounts

During the quarter under review, 3 million new accounts were opened, taking the total number of BB accounts to 19.9 million. BB accounts are gradually being accepted and have shown growth of 83.4% since Jun-15 to Dec-16.

The activity in BB accounts has shown consistent growth since Q1-CY15, however, 6% decline was observed in Q2-CY16.

BB Marketshare

Easypaisa maintained its lead position in total number of BB accounts, JazzCash however increased its lead in terms of active number of BB accounts.

JazzCash increased its lead in active BB accounts by 2% as compared to last quarter to settle at 43% marketshare.

Province Wise BB Share


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