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VEON’s Mobilink Microfinance Bank Signs Share Purchase Agreement for 82.5% Stake in Apna Microfinance Bank

  • VEON Ltd. announced its subsidiary, Mobilink Microfinance Bank, signed a Share Purchase Agreement to acquire an 82.5% stake in Apna Microfinance Bank Limited.
  • The transaction remains subject to regulatory approvals from the State Bank of Pakistan & the Competition Commission of Pakistan before completion.
  • Apna Bank operates over 70 business locations with a loan portfolio focused on agriculture & small businesses serving rural & underserved communities.
  • Upon completion, Apna Bank's network will integrate into Mobilink Bank's nationwide system to expand access to Islamic banking, digital capabilities, & financial services.
  • The acquisition advances Mobilink Bank's "Growth with Purpose" strategy by combining disciplined growth with broader financial inclusion for underserved populations.
  • VEON's Pakistan financial services portfolio now spans payments, insurance, & banking through JazzCash, JazzSure Insurance, FikrFree, Mobilink Bank, & the soon-to-be-acquired Apna Bank.
  • Kaan Terzioglu, VEON Group CEO, stated the deal leverages Mobilink's digital capabilities & Apna Bank's expertise to reach more underserved communities in the high-growth Pakistan market.
  • Haaris M. Chaudhary, Mobilink Bank CEO, emphasized the bank's confidence in Pakistan's financial sector & its commitment to prudent growth & seamless integration.
  • VEON Digital Financial Group serves 59 million active financial services customers across Pakistan, Kazakhstan, & Uzbekistan as of Q3 2026.
  • The deal complements VEON's broader strategy of building leading digital financial services ecosystems following recent milestones in Kazakhstan & Bangladesh.
Company
VEON Ltd.
Keywords
Nasdaq:VEON, VEON Ltd.