Telenor Group has acquired all regulatory approvals to rename Tameer Microfinance Bank to Telenor Microfinance Bank, media sources have reported. Telenor Group had acquired 51 pc shares in Tameer Bank back in 2008, after which the two corporations collaborated to launch Easypaisa in 2009.
The Telenor Group later increased its shareholding in Tameer Microfinance Bank to 100%, which made Tameer Bank the country’s first and largest microfinance bank a wholly-owned subsidiary of the Norway-based telecommunications company.
Ali Riaz Chaudhry, appointed last year will continue to work in the capacity of being the President and CEO of Telenor Bank. He will also retain control of Easypaisa that was under control of Telenor Pakistan. Moreover, the bank’s operations will continue as before with no change in existing services to the consumers.
The CEO/President will be hosting an event in Karachi, on Monday to launch the rebranded Telenor Bank and highlight the image and vision of the corporation.
