JazzCash and its associated financial services businesses earned Rs43.4 billion in revenue in the third quarter of 2026, a rise of 67.6 per cent from the same period last year, as digital payments and lending continued to grow rapidly across Pakistan.
What happened?
VEON, the parent company of Jazz, reported the results on November 6, 2026, for the quarter ended September 30. The Pakistan financial services business, which includes JazzCash, Mobilink Microfinance Bank and JazzSure, recorded a net profit of Rs6.8 billion, while profit before tax rose 296.8 per cent to Rs8.9 billion.
Key details
- Revenue grew 67.6 per cent year-on-year to Rs43.4 billion in the quarter ended September 30, 2026.
- Gross transaction value reached Rs6.9 trillion, up 79.2 per cent from Rs3.86 trillion a year earlier.
- Branchless banking accounts rose 21.6 per cent to 65 million, with 30.4 million customers active during the quarter.
- Active merchants more than doubled to 957,100, up 121.9 per cent from 431,300 a year earlier.
- JazzCash issued more than 230,000 nano-loans every day during the quarter, and the overall gross loan portfolio grew 51.9 per cent to Rs134.6 billion.
- For the first nine months of 2026, revenue rose 58.4 per cent to Rs116.2 billion and net profit surged 505.5 per cent to Rs13.3 billion.
What it means for people in Pakistan
The growth shows how quickly Pakistanis are moving to digital wallets for payments, transfers and small loans. With more merchants accepting JazzCash and nano-loans reaching more borrowers, digital finance is becoming a practical everyday option for people who may not have easy access to a traditional bank branch.
