Wednesday, 06 Jul, 2022

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Remarkable performance in 2021 announced in Annual Investors Meet

IPDC's Stride towards Success Continues

News Desk | banglanews24.com
Update: 2022-03-30 18:58:40
IPDC's Stride towards Success Continues

IPDC Finance Limited announced its financial and business performance in 2021 along with future plans in the company’s annual investors meet via an online session. The continuous success of the company, financial highlights of 2021, different initiatives taken in the year and achievements in 2021 were discussed in the session conducted by the Managing Director & CEO of IPDC, Mominul Islam. Journalists, industry specialists, stakeholders and general mass watched the session live from the company’s official Facebook page.

According to the session, the loan portfolio of IPDC has grown by 21.9% from the previous year. This growth has been possible due to the notable growth of SME and Emerging Corporate loan portfolio. In 2015, 79% contribution of total loan portfolio came from Corporate loan whereas SME and Emerging Corporate loan and Retail loan contributed only 11% and 10% respectively. In 2021, the contribution from SME and Emerging Corporate loan has risen to 31%. For retail loan, the number is 22%. Considering the impact of SME loan and Retail loan in the socio-economic development of Bangladesh, special focus was given to these two products.

In 2021, customer deposit of IPDC has grown by 17.3%. As per Mominul Islam, the growth of customer deposit is reducing dependency on Bank borrowing for fund collection. In 2018, bank dependency for source of fund was 29%. It has come down to only 5% in 2021 whereas the contribution of customer deposit as source of fund has gone up to 68%. This is a sign of sustainable development for IPDC that there is now less bank dependency for source of fund.

In this period, IPDC’s revenue has increased by 21.7%. Even after keeping adequate amount as provision, the company has earned a net profit of BDT 881 million which is 24.9% more than the previous year. At the end of 2021, IPDC has ensured a contingency liquidity reserve of BDT 1,340 million. Mominul Islam also discussed about IPDC’s success in keeping various important ratios like Return on Equity, Return on Asset, Earning per Share, Cost to Income etc. at a satisfactory state.  The incredible growth of 98% in women entrepreneurs’ loan was specially mentioned by him.

IPDC took different initiatives as a socially responsive firm throughout 2021. ‘Manobota Deposit’ by IPDC got huge appreciation from all. It was a campaign under which customers sacrificed a small amount from their interest earning from deposit and IPDC added more to that amount to distribute food help among the poverty-stricken people suffering due to covid situation. Via Jaago Foundation, IPDC gave the educational expenses of 50 deprived children. The company helped ‘Narail Express Foundation’ to build a much needed gym in the foundation.  A war heroine with a special child got fund from IPDC to run her family. Moreover, in 2021, IPDC introduced ‘Aroggo’ loan for IPDC customers for treatment of Covid.

Mominul Islam also mentioned toward the end of the session the multiple awards and recognitions IPDC received throughout 2021. IPDC won ‘the most progressive organization award’ at Inspiring Women Award 2021. Retailer financing platform of the organization ‘Dana’ received Bangladesh Fintech Award 2021. The company got multiple awards at Commward and Bangladesh Innovation Awards. He specially mentioned the ‘Intellectual Property Protection Award 2021’ that IPDC received from Bangladesh Copyright Office for encouraging the practice and manifestation of folk songs.

The MD and CEO also announced some goals for the year 2022. Strengthening the distribution system to ensure even faster service, optimizing the usage of resources, process reengineering and digitization for better service, official inauguration of IPDC EZ and Dana are among the major goals.

At the end of the session Mominul Islam said, “As we have just passed the 50-year landmark of our independence, IPDC reinstates its commitment to be a partner of the socio-economic development of the country as a financial intermediary. Our special focus of course will remain with the empowerment of women, youth, entrepreneurship, and affordable housing for the lower-middle income families beyond the megacities of the country. We wish unbound joy, happiness and success for all the citizens of this country celebrating the golden jubilee of our independence. We hope to be with you in the coming years.” 

BDST: 1855 HRS, MAR 30, 2022
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