LankaBangla Finance PLC

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

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

• LankaBangla Securities Limited[20][21]
• LankaBangla Investments[10]
• LankaBangla Asset Management Company[10]
• LankaBangla Foundation[22]

Board of directors