ISLAMABAD — Telenor is exploring a sale of its controlling stake in Pakistan digital financial services provider Easypaisa, according to a Bloomberg report on Friday citing people familiar with the matter. The potential transaction follows the recent completion of the Norwegian telecom group exit from the Pakistani mobile market.
The Oslo-headquartered firm is working with Citigroup to evaluate the sale of its 55% stake in Easypaisa Bank Limited, which was formerly known as Telenor Microfinance Bank Limited. The digital financial platform could be valued at several hundred million dollars, according to sources involved in the discussions.
Telenor intends to invite initial offers from prospective international and domestic bidders within the next few months, though internal considerations are ongoing and no final decision has been reached.
The move comes after the full regulatory clearance and closing of the Pakistan Telecommunication Company Limited acquisition of Telenor Pakistan for 108 billion Pakistani rupees, roughly 385 million dollars.
While that transaction transferred the cellular operations and infrastructure assets to the state-backed telecom group, the digital banking unit was explicitly excluded from the deal.
The remaining 45% shareholding in Easypaisa is held by Alipay Hong Kong Holding Limited, a subsidiary of Chinese financial technology giant Ant Group Company Limited.
The potential divestment signals the final phase of a broader corporate restructuring for the Norwegian multinational corporation, which has systematically scaled back its footprint across Asian markets to concentrate resources on its core Scandinavian operations.
“It would be well received by the financial community to see Telenor simplifying its Asian portfolio,” Christoffer Wang Bjørnsen, an analyst at DNB Carnegie, wrote in a note cited by Bloomberg.
The asset enters the market during a period of strong financial performance. According to recent regulatory filings for the quarter ended March 31, 2026, Easypaisa reported a profit after tax of 1.49 billion rupees, yielding earnings per share of 2.47 rupees. Profit before tax reached 3.66 billion rupees for the quarter, representing a 4.4-times increase from the 0.84 billion rupees recorded during the corresponding period last year.
Easypaisa secured its commercial license for a Digital Retail Bank from the State Bank of Pakistan on January 28, 2025, transitioning out of its legacy microfinance framework into a full-scale scheduled digital bank.
The institution currently operates a streamlined network of 25 full-service physical branches alongside a nationwide grid of branchless banking agents, shifting its core business toward digital credit technology, merchant lending, and embedded consumer finance.
| Financial Indicator | Q1 2026 Performance | Year-on-Year Growth |
| Profit Before Tax | 3.66 Billion PKR | 435% Increase |
| Profit After Tax | 1.49 Billion PKR | Scale positive |
| Earnings Per Share | 2.47 PKR | Scale positive |
When Telenor Pakistan was sold to the local telecom group, user anxieties regarding the stability of the digital wallet prompted a public clarification regarding the separate operational structures of the entities.
“The State Bank of Pakistan licenses and oversees Telenor Microfinance Bank and Easypaisa as independent financial institutions,” the bank stated in an official announcement released on social platforms to address depositor concerns. “Subject to regulatory approvals, we are a joint venture between Telenor and Ant Group, who are devoted shareholders committed to the Bank’s continuous transformation.”
The eventual valuation and structure of the transaction will depend heavily on whether Ant Group exercises its right of first refusal to acquire the majority stake or if a new consortium enters the Pakistani digital banking space alongside the Chinese technology partner.
