Te­lenor rev­enues thru bank­ing busi­ness grow 32pc in 2015

The Pak Banker - - NATIONAL - Muham­mad Yasir

Te­lenor Pak­istan with its grow­ing branch­less bank­ing busi­ness recorded a hand­some growth of 32 per­cent which con­trib­uted sig­nif­i­cantly to its over­all bal­ance sheet.

Ac­cord­ing to re­sults an­nounced by Te­lenor Group for dif­fer­ent coun­tries, the rev­enues from other-mo­bile heads mainly branch­less and mo­bile bank­ing in­creased to 283 mil­lion NOK (Nor­way Cur­rency) in 2015 as com­pared to 214 mil­lion NOK recorded in 2014, de­pict­ing 32 per­cent year-onyear growth.

In terms of lo­cal cur­rency, Te­lenor Pak­istan earned sub­stan­tial amount in its non-mo­bile rev­enue of Rs 3.462 bil­lion in 2015 which was stood at Rs 2.618 bil­lion show­ing a growth of 32 per­cent year-on-year growth even in lo­cal cur­rency. Te­lenor Pak­istan is not only an op­er­a­tor of Pak­istan big­gest branchelss bank­ing com­pany but it is an owner of Tameer Mi­cro­fi­nance Bank, which is one of the lead­ing bank with largest de­posits base.

The com­pany also launched Easypay ser­vice which is be­ing uti­lized in­creas­ingly for only money trans­fer. Te­lenor is now in the process of ac­quir­ing re­main­ing 49 per­cent share of Tameer Mi­cro­fi­nance Bank which will en­hance its prof­itabil­ity in Pak­istani mar­ket sig­nif­i­cantly and boost up its cash flow and liq­uid­ity to op­er­ate its dif­fer­ent busi­nesses. Te­lenor not only re­ceived two awards in 2014 for mo­bile fi­nan­cial cat­e­gory but it was again nom­i­nated in the GSM Awards in the sim­i­lar cat­e­gory for 2015. The branch­less bank­ing plays a ma­jor role in achiev­ing fi­nan­cial in­clu­sion in the coun­try which is a paramount goal of the cen­tral bank and the sit­ting govern­ment.

Nor­way's Queen Max­ima in her re­cent visit to Pak­istan ap­pre­ci­ated and said that Pak­istan built one of the strong­est foun­da­tions for fi­nan­cial in­clu­sion in the world. New reg­u­la­tions have sup­ported the emer­gence of branch­less bank­ing, a grow­ing mi­cro­fi­nance sec­tor, ef­fec­tive pay­ments sys­tems and a more con­struc­tive ap­proach to cus­tomer iden­ti­fi­ca­tion. Over­all, Te­lenor Pak­istan rev­enues in­creased to 7.75 bil­lion NOK as com­pared to 5.79 bil­lion NOK reg­is­ter­ing a growth of 34 per­cent year-on-year.

The fi­nan­cial re­port said that Te­lenor im­proved its ARPU in lo­cal cur­rency in­creased by 15%, pri­mar­ily due to the dis­con­nec­tion of un­ver­i­fied SIM cards in the se­cond quar­ter and in­creased in­com­ing in­ter­na­tional traf­fic.

Its to­tal rev­enues in lo­cal cur­rency in­creased by 8%, sup­ported by con­tin­ued growth in fi­nan­cial ser­vices and higher ARP whereas sub­scrip­tion and traf­fic rev­enues in lo­cal cur­rency in­creased by 1%.

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