Pakistan’s easypaisa Digital Bank reported record quarterly earnings for the first quarter of 2026, driven by strong growth in digital transactions, customer deposits and lending activity, as the country’s financial sector continues to shift toward mobile-first banking services.
The bank announced that profit before tax (PBT) surged to PKR 3.66 billion for the quarter ended March 31, 2026, compared to PKR 840 million in the same period last year. The result marked a 4.4-times increase and represented the strongest quarterly performance in the bank’s history.
Profit after tax stood at PKR 1.49 billion, while earnings per share reached Rs2.47.
The strong results came as Pakistan’s broader macroeconomic environment showed signs of gradual stabilization during the first quarter. Officials cited the country’s IMF Extended Fund Facility programme, improving foreign inflows and consecutive current account surpluses as factors supporting economic confidence.
The bank said the improving economic environment created “a constructive operating environment” for continued expansion.
Revenue growth driven by lending and digital payments
Overall revenue increased 24% year-on-year during the quarter, supported by growth across lending, treasury operations and payment services.
Net markup income rose 22% from a year earlier, fueled by expansion in the lending portfolio and treasury books. Treasury income also climbed sharply due to strong deposit growth.
Fee-based income posted a 27.1% increase, mainly because of higher payment services revenue, including OPS revenue and load and bundle income.
The bank also benefited from lower provisioning charges, reflecting reduced default rates in its digital lending portfolio and stronger recoveries from previously written-off loans.
Operating expenses rose 22% year-on-year as the bank continued investing in customer acquisition, merchant expansion and retention programmes.
Commenting on the results, Jahanzeb Khan said the bank’s growth reflected increasing public confidence in digital banking.
“This record performance reflects the strong momentum we have built as Pakistan’s leading digital bank,” he said.
“Our continued growth is driven by customer trust, disciplined execution, and our commitment to expanding access to financial services at scale.”
He added that the bank would continue focusing on innovation and financial inclusion.
“Guided by our vision of empowering Pakistan through digital banking, we remain committed to relentlessly simplifying and securing financial services to unlock opportunities for all.”
Deposits and user base continue to rise
The bank’s balance sheet also showed strong expansion.
Total assets reached PKR 217.6 billion by March 31, 2026, while customer deposits climbed 52% year-on-year to PKR 153.4 billion.
The bank maintained strong liquidity indicators, with CASA and current account ratios standing at 97.7% and 80.6%, respectively.
Total advances stood at PKR 27.3 billion, while the advances-to-deposit ratio reached 17.80%.
Asset quality remained stable, with non-performing loans above 90 days past due reported at 3.03%. The bank said these loans remained fully covered through a coverage ratio of 164%.
Its capital adequacy ratio stood at 21.27%, comfortably above regulatory requirements set by the State Bank of Pakistan.
Amin Sukhiani said the bank would continue prioritizing sustainable growth and financial inclusion.
“We are proud to deliver yet another record quarter,” he said.
“Our results reflect the trust our customers place in us, the strength of our team, and the power of our digital-first model.”
The bank said it now serves more than 22 million monthly active users, including three million new digital users added over the past year.
Analysts say Pakistan’s digital banking sector continues expanding rapidly as smartphone penetration, mobile payments and branchless banking adoption increase across urban and rural markets.
