Business Desk :
LankaBangla Finance Ltd posted a 31% growth in its consolidated annual profits for 2021, thanks to its return on capital market investments.
The consolidated net profit after taxes of the non-bank financial institution (NBFI) soared to Tk130 crore in 2021, which was Tk97 crore in the previous year. Its consolidated earnings per share (EPS) stood at Tk2.38.
According to the company’s financial statements, the profit surged mainly because its net investment income from the stock market, and brokerage and underwriting commission increased to Tk79.89 crore and Tk78.83 crore respectively.
However, the NBFI’s solo profit fell 26% year-on-year in 2021. Its solo EPS stood at Tk1.13 in 2021, which was Tk1.53 in the previous year.
LankaBangla Finance is operating with the second largest balance sheet in its sector with a significant customer base in retail, SME, and corporate lending arenas.
It is also the third lender to offer credit cards in Bangladesh and still the lone NBFI in the plastic money business.
