LankaBangla Finance PLC

Last updated
LankaBangla Finance PLC.
Formation1997
Headquarters Dhaka, Bangladesh
Official language
Bengali
Website www.lankabangla.com

LankaBangla Finance PLC. is a licensed non-banking financial company in Bangladesh. [1] Mohammad A. Moyeen is the chairman of LankaBangla Finance Limited. [2] Khwaja Shahriar is the CEO and managing director of LankaBangla Finance Limited. [3]

Contents

History

LankaBangla Finance Limited was established in 1997 as a non-banking financial institution by Vanik Incorporation Limited of Sri Lanka and some Bangladeshi investors. [4] [5] It was originally named Vanik Bangladesh Limited but was renamed to LankaBangla Finance Limited in 2003. [5] Sampath Bank and One Bank Limited purchased shares in 2003. [5]

In 2005, LankaBangla Finance Limited launched LankaBangla Finance MasterCard replacing the old Vanik Card which was launched in 1998. [6] In May 2007, it provided a 10 per cent cash dividend. [7]

In 2010, the company was planning to go public with LankaBangla Securities Limited. [8] Mohammed Nasir Uddin Chowdhury was appointed managing director of LankaBangla Finance Limited on 4 December 2011. [9]

On 1 June 2017, Khwaja Shahriar was appointed managing director of LankaBangla Finance Limited. [10]

LankaBangla Finance Limited increased their profit by 14.35 per cent in 2019 despite the liquidity crises in the financial market of Bangladesh. [10] It received US$20 million from the Islamic Corporation for the Development of the Private Sector. [11] In June 2020, it declared a 12 per cent dividend. [12]

In 2022, LankaBangla Finance Limited signed memorandum of understanding with Rangs Limited. [13] It signed an agreement with Nagad in June. [14] LankaBangla Securities was the top stock broker for 16 years at Dhaka Stock Exchange and 15 years at the Chittagong Stock Exchange consecutively. [15] LankaBangla Securities Limited thanked chairman of Bangladesh Securities and Exchange Commission Shibli Rubayat-Ul-Islam for approving TradeXpress of LankaBangla, a broker hosted OMS. [16] It had 4.35 billion BDT in classified loans in 2022. [17] Government Pension Fund of Norway invested US$1.76 million in LankaBangla Finance. [18]

In 2023, LankaBangla Finance Limited signed an agreement with Trust Axiata Pay (TAP). [19]

Subsidiaries

Board of directors

NamePositionNationalityReference
Mohammad A. MoyeenChairmanBangladeshi [23]
I. W. SenanayakeDirectorSri Lankan [23]
Nanda FernandoDirectorSri Lankan [23]
Mahbubul AnamDirectorBangladeshi [23]
Tahsinul HuqueDirectorBritish [23]
Aneesha Mahial KundanmalDirectorBangladeshi [23]
Zaitun SayefIndependent DirectorBangladeshi [23]
M. Fakhrul AlamIndependent DirectorBangladeshi [23]
Khwaja ShahriarCEO and Managing DirectorBangladeshi [23]

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References

  1. ↑ "LankaBangla Securities celebrates 25-year anniversary". The Business Standard. 2022-12-03. Retrieved 2023-02-09.
  2. ↑ "LankaBangla Finance celebrates 25 years of its glorious journey". The Daily Star. 2022-11-02. Retrieved 2023-02-09.
  3. ↑ Parvez, Sohel (2023-02-05). "Raising fund thru bonds to cut costs of NBFIs". The Daily Star. Retrieved 2023-02-09.
  4. ↑ "About Us". LankaBangla Finance Limited. Retrieved 2023-02-09.
  5. 1 2 3 "Vanik Bangladesh now LankaBangla Finance". The Daily Star. Retrieved 2023-02-09.
  6. ↑ "Vanik Card now LankaBangla MasterCard". The Daily Star. Retrieved 2023-02-09.
  7. ↑ "LankaBangla Finance okays 10pc dividend". The Daily Star. Retrieved 2023-02-09.
  8. ↑ Chowdhury, Sarwar A. (2010-02-17). "LankaBangla Securities plans to go public". The Daily Star. Retrieved 2023-02-09.
  9. ↑ "LankaBangla Finance gets new MD". The Daily Star. 2011-12-04. Retrieved 2023-02-09.
  10. 1 2 3 4 Habib, Ahsan (2020-06-16). "LankaBangla Finance triumphs despite liquidity pressure". The Daily Star. Retrieved 2023-02-09.
  11. ↑ "LankaBangla gets $20m from ICD". The Daily Star. 2019-01-28. Retrieved 2023-02-09.
  12. ↑ "LankaBangla Finance declares 12pc dividend". The Financial Express. Retrieved 2023-02-09.
  13. ↑ "LankaBangla Finance, Rangs Ltd sign MoU". The Daily Star. 2022-04-18. Retrieved 2023-02-09.
  14. ↑ "LankaBangla, Nagad launches digital sales window for marginal people". The Daily Star. 2022-06-07. Retrieved 2023-02-09.
  15. ↑ "LankaBangla Securities continues being top broker in DSE, CSE". The Daily Star. 2022-01-03. Retrieved 2023-02-09.
  16. ↑ "LankaBangla Securities Chairman thanks BSEC for facilitating new online trading". The Daily Star. 2022-01-24. Retrieved 2023-02-09.
  17. ↑ "Over 30pc loans of 13 NBFIs become defaulted". New Age. Retrieved 2023-02-09.
  18. ↑ "Norway's govt fund reduces investments in capital market in 2021". New Age. Retrieved 2023-02-09.
  19. ↑ "LankaBangla Finance inks deal with TAP to provide digital financial services". The Business Standard. 2023-02-09. Retrieved 2023-02-09.
  20. ↑ "LankaBangla Securities to get indicative price next week". The Daily Star. 2010-07-27. Retrieved 2023-02-09.
  21. ↑ "IUB to launch first ever university-level trading lab in Bangladesh". The Daily Star. 2022-06-15. Retrieved 2023-02-09.
  22. ↑ "LankaBangla Foundation distributes winter blankets in Chowmuhani". The Business Standard. 2023-01-23. Retrieved 2023-02-09.
  23. 1 2 3 4 5 6 7 8 9 "Board of Directors". LankaBangla Finance Limited. Retrieved 2023-02-09.


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