Equity injection Telenor Microfinance Bank gets $45m
PHOTO: FILE
Telenor Microfinance Bank has received an investment of $45 million from its shareholders Telenor Group and Ant Group Co Ltd (Ant Group). The investment by the shareholders will further strengthen the bank’s capital position and help the organisation continue its growth in the mobile payment space of Pakistan. Telenor Microfinance Bank focuses on technology and research and development to address the low level of financial inclusion in the country. Commenting on the development, Telenor Microfinance Bank Board of Directors Chairman Irfan Wahab Khan said, “The world is fast moving towards digitalisation and access to convenient financial services is the need of the hour.”
Published in The Express Tribune, September 3rd, 2020.
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