Genex Infosys Ltd, a leading IT service provider, has signed an agreement with Standard Chartered Bank to work as a strategic partner, assisting the bank with engaging with a wider client base.
Under the agreement, the Genex Infosys will support Standard Chartered Bank to scale up its distribution network, efficiently reach new client segments and deliver world-class banking products and services to them, according to a filing with the Dhaka Stock Exchange (DSE).
The company is expected to generate about Tk 60 million of revenue per year from the project, according to the filing posted on the DSE website on Tuesday.
The board of directors of Genex Infosys approved the agreement with Standard Chartered Bank, Bangladesh on Monday, said Md. Jewel Rashed Sarker, company secretary of Genex Infosys.
"We are going to support Standard Chartered Bank Bangladesh as per the agreement very soon," said Mr Sarkar.
Last week, Genex Infosys also renewed its agreement with Banglalink Digital Communications for another five years which will generate Tk 120 million of revenue per year for the next five years.
Each share of Genex Infosys, listed on the stock market in 2019, closed at Tk 75.50 on Tuesday, gaining 5.59 per cent over the previous day.
Its shares traded between Tk 66.90 and Tk 185 in the last one year.
The IT Company has reported consolidated earnings per share (EPS) of Tk 3.26 for July 2021-March 2022 as against Tk 2.79 for July 2020-March 2021.
The consolidated net operating cash flow per share (NOCFPS) was Tk 3.50 for July 2021-March 2022 as against Tk 3.12 for July 2020-March 2021.
The consolidated net asset value (NAV) per share was Tk 18.54 as on March 31, 2022 and Tk. 18.22 as on June 30, 2021.
The company disbursed 10 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2021. In 2020, the company also disbursed 10 per cent cash and 10 per cent stock dividend.
Its authorised capital is Tk 2.0 billion and paid-up capital is Tk 1.13 billion while total number of securities is 113.55 million.
Sponsor-directors own 31.68 per cent stake in the company while institutional investors 22.71 per cent, foreign investors 0.06 per cent and the general public 45.55 per cent as on August 31, 2022, the DSE data showed.
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