LankaBangla portfolio rises 29pc

The board of directors of LankaBangla Finance Limited (LBFL) has announced 7.5 per cent cash and 7.5 per cent bonus shares for its shareholders, according to a press release.

In the fiscal year that ended in December 31, the total profit after tax amount of this non-banking financial institution has increased 142 per cent and now the figure stands at Tk 1.92 billion (Tk 192.63 crore), which was Tk 795.6 million in the previous year. Earning Per Share (EPS) has risen from Tk 2.50 last year to Tk 5.97.

On December 31, 2017, the aggregated per share net worth was Tk 26.16 which is 25 per cent more than its value in 2016 which was Tk 21.01 at the same time. According to the last Audit, Financial Status of the NBFI was approved at 6:30 pm on Tuesday afternoon in its 109th board meeting.

After the meeting, the company listed on both DSE and CSE announced that although the fiscal year 2017 was full of challenges and economic hardships, the expert LankaBangla team, along with the company's efficient Customer Care Service, has made it possible for all aspects of LankaBangla business concerns to emerge as profit making entities. Its merchant-banking subsidiary, LankaBangla Investments Limited, has made profit despite the adverse effects of the negative market equilibrium. LankaBangla Securities Limited still holds the number one position in the brokerage services market in the country. LankaBangla Asset Management Company is also making its progress in asset management business.

The portfolio of LankaBangla Finance has increased by 29 per cent to Tk 51.55 billion as of December 31. The profit level in the financial market in 2017 was 20 per cent, compared to which the growth factor of LBFL was higher by 9 per cent. The total number of deposit counts of LBFL increased to 23,669, which was 14,282 at the same time last year, indicating a rise of 66 per cent.

The total loan amount of LBFL as of December 31, 2017 rose to Tk 61.91 billion and it enjoyed 32 per cent rise in profit. At the time the growth rate in the financial sector was just 20 per cent.

LankaBangla will hold its Annual General Meeting (AGM) at 10:00 am, on March 29, 2018 at the Midas Auditorium in Dhaka. Hence record date has been kept on March 8, 2018.