Amidst economic challenges and high inflation, IPDC Finance Limited achieved notable profitability for the first half of 2024. The company’s revenue surged by 9.3% year-on-year to Tk 1,538 million, driven by improved interest rates and the removal of rate caps. Q2’24 revenue saw a substantial 25.8% increase compared to Q2’23. Investment income soared by 114.6% to Tk 218 million, largely due to favorable rates on Government Treasury bills. Efficient cost management led to an 8.9% reduction in operating costs for H1’24. Consequently, operating profit rose by 34.4%, and net profit increased to Tk 103 million, up from Tk 95 million the previous year. Despite economic volatility, IPDC Finance secured Tk 10,114 million in new deposits from 2,350 customers, reflecting robust financial performance.
Source for more details:
