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IPDC to focus more on digital platform-based financial service

FE REPORT | October 29, 2019 00:00:00

IPDC Finance Limited, a leading non-bank financial institution (NBFI), will focus more on digital platform-based and gender-sensitive financial services in the coming days, said its top official.

The financial institution will also launch a retailer financing scheme to facilitate retailers getting low-cost and collateral-free fund for their businesses by the beginning of next year and a consumer goods financing scheme by the middle of 2020.

The vision was disclosed at the NBFIs 'Investors meet' held at a hotel in the capital's Gulshan area on Sunday.

Mominul Islam, managing director and CEO of IPDC, Rizwan Dawood Shams, deputy managing director and head of Business Finance, and Md Kyser Hamid, deputy managing director and head of Retail Business, were present at the programme.

In his presentation, Mr Islam said the IPDC’s strategies include 'a home for every family', 'empowering women', 'creating entrepreneurs', 'beyond mega cities' and 'bringing convenience at homes'.

He said IPDC is currently working with IBM to develop a blockchain-based supply chain platform, first of its kind in the country.

Apart from industrial finance, the organisation will focus more on providing affordable housing loans, building women-sensitive business model, and SME (small and medium enterprise) and retail financing.

He also said many financial institutions have been facing liquidity crunch while IPDC has been observing somewhat excess liquidity due to good growth in deposits.

"While classified loans of different financial institutions have been making headlines, the rate is still not a concern for IPDC," he added.

The IPDC CEO said the opportunities of IPDC are linked to the socio-economic challenges and potential of Bangladesh over the next ten years.

Mr Islam also noted that the loans and advances of the NBFI stood at Tk 47.90 billion till date, up from Tk 44.32 billion in the last year, registering a growth of 8.10 per cent.

The company made an operating profit of Tk 846 million (18.8 per cent), net profit of Tk 446 million (55.9 per cent year-on-year growth) and saw a revenue of Tk 1.53 billion till date this year.

The 'Investors Meet' also highlighted the prestigious ratings earned by IPDC recently -- long-term AAA rating and short-term ST-1 rating -- from the Emerging Credit Limited.

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