JazzCash and linked financial services units posted revenue of Rs43.4 billion in the July to September quarter of 2026, a rise of 67.6% on the same period last year. The figures come from the latest financial results of VEON, the parent group whose telecom subsidiary is JazzWorld Pakistan. Net profit for the quarter reached Rs6.8 billion, and profit before tax climbed 296.8% to Rs8.9 billion.
The financial services arm in Pakistan covers JazzCash, Mobilink Microfinance Bank (MMBL) and JazzSure, the insurer formerly known as TPL Insurance. Over the first nine months of 2026, revenue rose 58.4% to Rs116.2 billion, and net profit reached Rs13.3 billion, a 505.5% increase.
Payments, merchants and lending
Gross transaction value, the total worth of payments processed through the platform, reached Rs6.9 trillion, up 79.2% from Rs3.86 trillion a year earlier. Branchless banking accounts, which let people bank from a phone without visiting a branch, rose 21.6% to 65 million. Some 30.4 million customers were active during the quarter, a gain of 15.6%, and transactions per active customer grew 53.5%.
Merchant acceptance expanded sharply. Active merchants climbed to 957,100 from 431,300, an increase of 121.9%, and the overall merchant base approached two million by September. On the lending side, JazzCash issued more than 230,000 nano-loans a day, which are very small, short-term digital loans. The total loan book grew 51.9% to Rs134.6 billion, made up of Rs88.5 billion in conventional bank loans and Rs46.1 billion in nano-loans.
Credit quality moved in both directions. The non-performing loan ratio, meaning the share of bank loans that borrowers have stopped repaying, fell to 8.1% from 10.4%, and nano-loan recoveries rose to 93.2%. Loan-loss provisions, the money set aside against bad debts, increased 33.2% to Rs11.2 billion.
Spectrum and insurance deals
Separately, JazzWorld Pakistan secured the largest block of 190 MHz spectrum in the mobile auction held on March 10, 2026, for about USD240 million. Spectrum is the radio frequency licence that mobile networks use to carry calls and data. The 15-year licence has been booked at a discounted value of USD209 million.
On July 13, 2026, Jazz International Holding Limited completed the purchase of a controlling 76.33% stake in TPL Insurance for a total of USD16 million. The Competition Commission of Pakistan, the regulator that reviews mergers and acquisitions, approved the deal. VEON said the goal is to pair JazzCash's customers and merchants with the regulated banking and insurance offerings of MMBL.
Aasan alfaaz mein
JazzCash aur iske saath juri financial services ki aamdani July se September 2026 ki quarter mein 67.6% barh kar Rs43.4 billion ho gayi hai. Company ke mutabiq digital payments, merchants aur chhote loans ka istemal tezi se barh raha hai. Active merchants ki tadad 431,300 se barh kar 957,100 ho gayi hai. Aam user ke liye iska matlab hai ke digital payment ki jagahen zyada hain, lekin loan lene se pehle shart zaroor parh lein.
