MMBL, the only microfinance bank in the industry to have maintained a ‘Stable Outlook’, not included on PACRA’s Watchlist

Written by Press Release ·  49 sec read >

Mobilink Microfinance Bank (MMBL), the largest digital bank in Pakistan with over 700,000 traditional individual and micro-enterprise loans disbursed, alongside more than 3,300,000 digital nano loans disbursed till Nov 2020, and 10 million-plus active JazzCash digital wallets, has been recognized by PACRA, Pakistan’s leading Credit Rating Agency, as maintaining a ‘Stable Outlook’ and additionally, has not been listed on the agency’s Watchlist, as per credit assessments concluded recently.

MMBL is the only microfinance bank in the industry to have garnered this combined recognition from PACRA. The rating further recognizes MMBL as scoring an “A1” short-term rating and an “A” long-term rating. The agency carries out these credit assessments bi-annually.

Commenting upon this achievement, the President and CEO of MMBL, Ghazanfar Azzam said, “We have always been ambitious about empowering Pakistan through financial inclusion whilst prioritizing the highest standards of ethics and risk management along the way”.

Chief Financial & Strategy Officer Sardar Abubakr added “We are committed to serving our customers and shareholders better every day through responsible business practices that can help ensure financial inclusion for all”.

MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan. MMBL was also the only Pakistani microfinance bank to have become a semifinalist in the recently held European Microfinance Awards. Further, The Institute of Banking Pakistan (IBP) has recognized MMBL as the “Bank of the Unbanked” continuously for the last two years.