Telenor Microfinance Bank

From Wikipedia, the free encyclopedia

Telenor Microfinance Bank

Formerly	Tameer Microfinance Bank
Company type	Unlisted public company
Industry	Microfinance
Founded	2006; 18 years ago (2006)
Headquarters	Karachi, Pakistan
Key people	Mohammad Mudassar Aqil (President & CEO)
Products	Easypaisa
Revenue	Rs. 26.839 billion (US$93 million) (2023)
Net income	Rs. 502 million (US$1.7 million) (2023)
Total assets	Rs. 76.330 billion (US$260 million) (2023)
Total equity	Rs. 8.009 billion (US$28 million) (2023)
Parent	Telenor Group Ant Group
Website	telenorbank.pk
Footnotes / references Financials as of 31 December 2023^[update] ^[1]

Telenor Microfinance Bank (Urdu: ٹیلی نار مائیکرو فنانس بینک), formerly Tameer Microfinance Bank, is a Pakistani microfinance bank which is based in Karachi, Pakistan. It is jointly owned by Telenor Group and Ant Group, an affiliate company of Alibaba Group.

History

It was founded in 2006 by Nadeem Hussain as Tameer Microfinance Bank, which was later acquired by Telenor Pakistan.^[2]

In November 2008, Telenor Pakistan acquired 51 percent shares in Tameer Microfinance Bank for $12.5 million.^[3] In March 2016, Telenor Pakistan acquired the remaining 49 percent shares of Tameer MicroFinance Bank for an undisclosed sum.^[2]^[4]

In March 2018, Ant Group announced to acquire a stake for $184.5 million in Telenor Microfinance Bank through its subsidiary Ant Financial.^[5] In November 2018, the Competition Commission of Pakistan approved Alipay's – a subsidiary of Ant Financial – acquisition of 45% shareholding in the microfinance bank for $184.5 million.^[6]^[7]

In November 2021, the board of MCB bank approved to conduct due diligence to buy 55% shares of Telenor Microfinance Bank.^[8]^[9]^[10]

Products

Easypaisa, Pakistan’s first mobile banking platform launched in 2009, is the only GSMA mobile money certified service in the country. Initially launched as a money transfer service. It is part of Telenor Microfinance Bank and operates as a branchless banking service.^[11]

References

^ "Telenor Microfinance Bank Annual Report 2023" (PDF). Retrieved 14 September 2024.
^ ^a ^b "Telenor buys Tameer Bank". The Express Tribune. 17 March 2016.
^ "Telenor acquires 51 percent shares of Tameer Microfinance Bank". Aaj News. 22 November 2008.
^ "Telenor acquires Tameer Bank". Business Recorder. 18 March 2016.
^ "Telenor Bank: Chinese group to invest $184.5m". The Express Tribune. 14 March 2018.
^ "CCP approves Alipay's 45% stake in Telenor Microfinance Bank". The Express Tribune. 8 November 2018.
^ "ٹیلی نار پاکستان اور ٹیلی نار مائیکرو فائنانس بینک کا بے نظیر انکم سپورٹ پروگرام کے ساتھ معاہدہ بی آئی ایس پی سے مستفید ہونے والے مستحق افراد کو کاروباری مواقع اور چھوٹے قرضوں کے ذریعے بااختیار بنایا جائے گا". UrduPoint. Retrieved 22 March 2023.
^ "MCB to buy 55pc shares in Telenor Microfinance Bank". www.thenews.com.pk. Retrieved 4 November 2021.
^ Alam, Kazim (3 November 2021). "MCB eyes majority stake in TMBL". DAWN.COM. Retrieved 4 November 2021.
^ "Purchase of 55% shares in Telenor Microfinance Bank: MCB Bank approves due diligence". Brecorder. 2 November 2021. Retrieved 4 November 2021.
^ "About Easypaisa". Easypaisa. Retrieved 23 October 2020.

v t e Telenor
Mobile	CelcomDigi (Malaysia) (33.1%) Djuice DNA Oyj Grameenphone (Bangladesh) (55%) Telenor Denmark Telenor Mobil (Norway) Telenor Pakistan Telenor Bank Easypaisa Telenor Sverige True Corporation (Thailand) (30%)
Fixed	Svalbard Undersea Cable System
Broadcasting	Allente (50%) Norges Televisjon (33%) Norkring RiksTV (33%) Thor satellites
Other	Telenor Arena Karlskrona Telenor Arena Telenor Kystradio
Former	AeroMobile Bredbandsbolaget Canal Digital Evry Glocalnet Kyivstar (Ukraine) (43%) One Montenegro Yettel Bulgaria Telenor Cinclus (66%) Yettel Hungary Telenor India Telenor Myanmar Yettel Serbia vcash Veon (33%)

v t e Alibaba Group
People	Jack Ma Daniel Zhang J. Michael Evans Peng Lei Jonathan Lu Joseph Tsai Wang Jian Maggie Wu
Services	Alibaba Cloud AliExpress AliGenie AliMusic AliOS Alipay Taobao Tmall Tmall Genie Xuexi Qiangguo
Subsidiaries	Alibaba Health Alibaba Pictures Amblin Partners Amblin Entertainment Amblin Television DreamWorks Pictures Ant Group Tianhong Asset Management Zhima Credit AutoNavi Cainiao Ele.me Heyi Pictures Lazada Group Shenma South China Morning Post Tudou UCWeb UC Browser World Electronic Sports Games Youku
Others	Hupan University
Commons Category

Banking in Pakistan

Central bank

State Bank of Pakistan

Big Four

Commercial banking

Public sector	Bank of AJK Bank of Khyber Bank of Punjab First Women Bank Industrial Development Bank Karakoram Cooperative Bank Punjab Provincial Cooperative Bank Limited Sindh Bank Zarai Taraqiati Bank Limited
Private sector	Allied Bank Askari Bank Bank AL Habib Bank Alfalah HabibMetro JS Bank Soneri Bank Standard Chartered Pakistan

Microfinance

Islamic banking

House building

House Building Finance Company

Savings Bank

National Savings Organization

Foreign banks

Defunct banks

History

Products

See also

References