Two Years, Two Upgrades; PACRA Raises easypaisa digital bank’s Rating to ‘AA-’

The Pakistan Credit Rating Agency Limited (PACRA) has upgraded easypaisa digital bank’s long-term credit rating from A+ to AA-, reflecting the bank’s strong position as Pakistan’s leading digital bank and its successful transition into a fully licensed Digital Retail Bank (DRB).

This represents easypaisa’s second consecutive credit rating upgrade from PACRA in as many years is a strong external endorsement of easypaisa’s transformation into Pakistan’s first licensed Digital Retail Bank. Consecutive upgrades of this nature are rare in the industry and reflect the strength of easypaisa’s balance sheet, the discipline of its risk management practices, and the continued scale and resilience of its digital ecosystem.

Following the grant of its commercial DRB license in January 2025, easypaisa has continued to demonstrate strong momentum across its digital ecosystem, supported by robust transaction volumes, rising customer engagement, and its widely adopted mobile application, which remains central to its digital franchise.

Strategic support from its shareholders, such as Telenor, along with Ant Group’s continued knowledge sharing and technological backing, remains a key rating strength, reinforcing operational resilience and long-term growth prospects.

With this upgrade, easypaisa remains focused on leveraging this financial strength to create greater value for our customers, advance financial inclusion, and deliver sustainable returns for our shareholders.

Commenting on this achievement, Jahanzeb Khan, President & CEO, easypaisa digital bank, stated, “This rating upgrade is a strong endorsement of easypaisa digital bank’s strategy, execution, and long-term vision of building a more inclusive and digitally empowered financial ecosystem while maintaining a strong balance sheet. As Pakistan’s first digital bank to commence commercial operations, we are focused on expanding access to formal financial services, deepening customer engagement through innovation, and delivering seamless digital experiences that empower individuals and businesses across the country. This recognition further strengthens our resolve to accelerate financial inclusion and contribute meaningfully to Pakistan’s digital transformation journey.”

Amin Sukhiani, Chief Financial Officer, easypaisa digital bank, said, “The upgrade reflects the strength of our financial fundamentals, the resilience of our business model, and our ability to deliver sustainable growth at scale. Strong growth in deposits, profitability, capital adequacy, and customer adoption demonstrates the robustness of our digital banking model and reinforces the confidence of our stakeholders. We remain committed to maintaining prudent risk management, strong governance standards, and a solid balance sheet as we continue to support the bank’s next phase of growth.”

Over the years, easypaisa has evolved into one of Pakistan’s leading digital financial services platforms, serving both retail and business customers through a broad range of payment, lending, banking, savings, insurance, and merchant solutions. Leveraging its mobile application and extensive agent network, the platform enables seamless fund transfers, bill payments, mobile top-ups, digital lending and savings, debit card services, and a range of collection and disbursement solutions for corporates and merchants. Its robust digital infrastructure, extensive distribution network, and growing ecosystem continue to advance financial inclusion and strengthen its position within Pakistan’s rapidly evolving digital financial services sector.

During 2025, easypaisa processed more than 4.6 billion transactions, worth PKR 16 trillion, demonstrating the scale and increasing integration of its digital ecosystem. Monthly active users have grown to over 22 million, while branchless banking deposits increased to PKR 122.8 billion (CY24: PKR 72.4 billion), reflecting rising customer engagement and deeper wallet adoption.

The bank’s profitability also improved, recording a Profit After Tax (PAT) of PKR 17.04 billion, a 5x year-on-year increase, supported by growth in net markup income and fee generation. The equity base strengthened to PKR 30.9 billion, while the Capital Adequacy Ratio (CAR) improved to 20.4%, providing a comfortable buffer to support future growth and risk absorption.

The merchant network also expanded significantly to 300,000 merchants. During CY25, the bank demonstrated strong balance sheet growth, with total assets increasing to PKR 184.8 billion (CY24: PKR 108.4 billion), primarily driven by the expansion of its investment portfolio to PKR 113.3 billion, supported by deposit growth and profit retention.

As Pakistan’s first digital bank to commence commercial operations, easypaisa continues to play a pivotal role in advancing the country’s digital finance ecosystem. Serving more than 60 million registered users and supported by a nationwide network that reaches communities across Pakistan, the bank remains aligned with the State Bank of Pakistan’s vision of fostering inclusive economic growth through innovation and technology.