Branchless banking in Pakistan shows 51% quarter growth
According to the stats the number of branchless bank account holders reached the mark of 357,598 in September 2011 which showed a 51% growth compared to the number which was 236,464 in June 2011.
It further revealed that 17,448 branchless banking agents throughout the country made 15.867 million transactions in just one quarter, which ended on September 30 in the running year.
These transactions from July to September 2011 were averaged at Rs. 3,700 per transfer, with a total of 176,296 transactions per day, while the value of transactions totaled Rs58.711 billion.
In a survey carried out by the SBP, it was found that almost half of branchless banking users did not have a bank account and almost two-thirds of them used the service regularly. The results underline the demand for efficient, low cost and accessible financial services.
A version of this post originally appeared on ProPakistani.
Correction: An earlier version of this story incorrectly mentioned the quarter ended date as September 31. The error is regretted.
COMMENTS (1)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
1725030039-0/Untitled-design-(2)1725030039-0-165x106.webp "article")
Dear ET,
Copy paste from other sites and acknowledging it is fine but please do proof read as well, The last time time I checked there was no date in calendar as 31 September.