Telenor Group has announced to rebrand Tameer Microfinance Bank as Telenor Microfinance Bank, after about a year of its 100% acquisition.
Telenor joined hands with Tameer Bank in 2009 to launch Pakistan’s first Branchless Banking Service, Easypaisa by acquiring 51% shares in the bank. Telenor Group later brought all remaining shares in the bank to take full control.
Mr. Ali Riaz Chaudhry, President & CEO of the bank said that the new name represents a significant foreign direct investment in Pakistan’s banking sector.
Introducing Telenor Microfinance Bank Ltd. (formerly Tameer Microfinance Bank Ltd.) pic.twitter.com/mT1rz2ovf6
— Telenor Bank (@TelenorBankPk) March 26, 2017
However, the management of Telenor Microfinance Bank remains the same, and all future business activities will be conducted under the new name.
It merits mentioning here that Telenor Pakistan and Telenor Microfinance Bank are now two separate entities and Easypaisa operations comes under the Telenor Microfinance Bank.
