Bangladesh Finance and Investment Company Limited

Bangladesh Finance Limited, also known as BD Finance or Bangladesh Finance, is a non-bank financial institution in Bangladesh.[1][2] Manwar Hossain is the chairman Bangladesh Finance and Investment Company Limited and Md Kyser Hamid is the CEO and managing director.[3]

Bangladesh Finance is listed on the Dhaka Stock Exchange.[4]

History

Bangladesh Finance and Investment Company Limited was established in 1999.[5] It is a subsidiary of Anwar Group.[6] It was incorporated on 10 May 1999 received its license on 22 December 1999.[7][8] Anwar Hossain was the founding chairman of Bangladesh Finance and Investment Company Limited.[9] Hossain was the founder of Anwar Group, The City Bank Limited, and City General Insurance Company Limited.[10] It started its operations on 15 February 2000 with BDT 500 million authorized capital.[8]

Mafizudddin Sarkar was the managing director of Bangladesh Finance and Investment Company Limited in 2015 when he was elected chairman of Bangladesh Leasing and Finance Companies' Association.[11]

Tarik Morshed was the managing director of BD Finance in 2019.[12] Md. Kyser Hamid was appointed CEO and managing director of Bangladesh Finance and Investment Company Limited in September 2020.[13]

In April 2021, BD Finance signed an agreement with the United States-based Sovereign Infrastructure Group for investments worth US$2 billion.[6] It received an AA− rating.[14] Bangladesh Finance and Investment Company Limited was renamed to Bangladesh Finance Limited in April 2021.[15]

Bangladesh Finance Limited experienced an eight percent decline in profit in 2022.[16] It was recognized as having the second best financial statement issued by a non-bank financial institution by the Institute of Chartered Accountants of Bangladesh after IDLC Finance; and IPDC Finance was third.[17]

Mahtab Uddin Ahmed, former CEO of Robi, joined BD Finance as a director in 2023.[18] Fatema Begum, the first woman police officer and former additional inspector general of Bangladesh police, was appointed director of BD Finance.[19] Its profit declined 75 percent in 2023 due to lower income from interest and a decrease in return on securities.[20] It was one of the few non-banking financial institutions that was able to secure an increase in profit from July to September along with LankaBangla Finance PLC and Delta Brac Housing Finance Corporation.[21] It received awards from Bangladesh Bank and Bangladesh Institute of Bank Management for contribution to sustainable financial investment.[22][23]

Subsidiary

• Bangladesh Finance Capital[24]