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Telenor is exploring the sale of its 55% stake in Easypaisa Bank via Citigroup, potentially marking the Norwegian giant’s complete exit from Pakistan.
Norway’s Telenor ASA may be on the verge of closing its final chapter in Pakistan, and the country’s fintech landscape could be about to change hands.
Telenor is considering selling its controlling stake in Easypaisa Bank, a move that would mark its full exit from Pakistan, with the Norwegian company working with Citigroup on the potential disposal of its 55% equity stake. Pvara
The development comes just months after Telenor completed the sale of its telecom operations. Last year, Telenor finalised the sale of Telenor Pakistan to the PTCL Group for Rs108 billion, approximately $385 million. Easypaisa, the digital financial services arm, was deliberately excluded from that transaction. Now, it appears to be next on the block.
The 55% stake in Easypaisa could be valued at several hundred million dollars, with Telenor planning to invite initial offers from prospective bidders within the next few months. However, sources close to the matter stress that deliberations remain ongoing, with no final decisions made.
What makes this potential sale particularly compelling is the strength of the asset being offered. For the quarter ended March 31, 2026, Easypaisa reported a profit after tax of Rs1.49 billion, earnings per share of Rs2.47, and a profit before tax of Rs3.66 billion; a 4.4x increase from Rs0.84 billion in the same quarter last year.
Easypaisa has grown into Pakistan’s first digital retail bank with 55 million registered users, launched in 2009 as a branchless banking initiative before evolving into a full-fledged digital bank offering payments, transfers, savings, and lending services under State Bank of Pakistan regulation
The remaining 45% of Easypaisa is held by Ant Group, the Chinese fintech giant backed by Jack Ma, which acquired its stake for approximately $184.5 million in 2018. Any incoming buyer would therefore enter as a majority partner alongside one of Asia’s most formidable digital finance players.
Market analysts have already signalled their approval. Christoffer Wang Bjornsen, an analyst at DNB Carnegie, wrote in a note quoted by Bloomberg: “It would be well received by the financial community to see Telenor simplifying its Asian portfolio.”
Telenor has been present in Pakistan for more than two decades, and the potential Easypaisa sale would finalise its full withdrawal from the South Asian market. For Pakistan’s fintech sector, however, the real intrigue lies in who comes next.
With Easypaisa’s profits surging and its user base in the tens of millions, the bidding war for this asset could attract some of the biggest names in global digital banking.
