IPDC sees profit growth of 120pc in Q1

IPDC Finance has conducted a session on its performance, benchmarks, key strategic initiatives and the future challenges.

The session titled “Investors Meet” was conducted on Thursday in a city hotel.

“Existing and potential investors were impressed when they came to know that IPDC had realigned their focus on nationwide spread with diversified services to steer up its next phase of growth and has been successfully implementing the newly defined strategies for the upcoming years,” said a statement.

These strategies include ‘A Home for Every Family’, ‘Empowering Women’, ‘Creating Entrepreneurs’, ‘Beyond Mega Cities’ and ‘Bring Convenience at Home’.

From IPDC, Mominul Islam, Managing Director and CEO; Rizwan Dawood Shams, DMD & Head of Business Finance; Md. Kyser Hamid, DMD & Head of Retail Business & other high officials were present at the event.

Also, representatives from LankaBangla Investments, BRAC EPL Investments LTD, IIDFC Capital Limited, CAPM Advisory, Brummer & Partners (Bangladesh) & other notable financial institutions were also present in the event.

Mominul Islam, Managing Director & CEO IPDC Finance Limited speaking at the occasion said, “IPDC’s undertaking is relevant to the socio-economic challenges and opportunities of Bangladesh in the next ten years. Having the precise road map, we have created a holistic approach and introduced a digital platform and product namely Orjon for Supply Chain Finance and Bhalo Basha i.e. Affordable Home loan beyond megacities and many other in process.’’

Deedarul Huq Khan, Chief Executive Officer, BRAC EPL Investments Ltd said “IPDC indeed has attained an astounding transformation by growing its business tenfold and reducing the NPL from one of the highest in the country to one of the lowest around at 1.2%. A profit growth of 120% year over year in the first quarter of 2019 itself is an indicator of its diligence.’’

-rmc//