After acquiring Tameer Microfinance Bank last year, the telecom company has finally changed its name to Telenor Microfinance Bank. The company revealed this new development via Twitter yesterday;
Introducing Telenor Microfinance Bank Ltd. (formerly Tameer Microfinance Bank Ltd.) pic.twitter.com/mT1rz2ovf6
— Telenor Bank (@TelenorBankPk) March 26, 2017
In March 2016, the telecom company acquired Tameer as a wholly owned entity within Telenor Group. Recently, it was also revealed that Easypaisa, its mobile financial services division, was also being redirected to their bank.
It is unlikely that any other changes in the management and services will be seen in the bank right now, though we can expect some new branding and marketing practices for sure. Ali Chaudhary, President, and CEO of Tameer Bank will continue to lead the bank.
With the acquisition of Tameer Bank, the company marked its entrance into Pakistan’s banking sector. It already has a successful mobile/branchless banking system which makes it easier for people to send and receive money and also shop online.
Easypaisa also partnered with Muslim Commercial Bank (MCB) where their customers can deposit and withdraw cash using Telenor’s mobile banking services. The company that was speculated to winding up its business in Pakistan, is going strong with its new partnerships and products in the banking industry.