CEO Telenor Microfinance Bank (Easypaisa) Steps Down to Pursue Opportunity Abroad

The Chief Executive Officer (CEO) of Telenor Microfinance Bank Limited (Easypaisa) M. Mudassar Aqil has resigned from his position to pursue a new opportunity overseas, official sources told ProPakistani.

With the departure of Aqil from the top role, the future plan of action of Telenor Microfinance Bank and Easypaisa comes into focus.

To maintain the bank’s growth trajectory and position as a leading player in Pakistan’s financial technology sector, the bank’s leadership will need to navigate this leadership transition and ensure a smooth transition.

Aqil’s departure raises concerns about Telenor Microfinance Bank and its renowned mobile financial services platform Easypaisa.

While Pakistan struggles to match the global pace in its pursuit of digital transformation, Telenor Microfinance Bank and Easypaisa should adjust to this change while working to offer high-end financial services to their customers.

Telenor Microfinance Bank/Easypaisa has claimed to reduce its losses by more than 90 percent in the first quarter of 2023, from Rs. 2.185 billion in the same period last year to Rs. 185 million.

The bank also experienced remarkable revenue growth, with earnings reaching Rs. 1.25 billion, a 353 percent increase from January to March 2023.

The bank attributed its success to factors such as equity investment and significant revenue growth in branchless banking.