bKash revenue crosses Tk5,000cr mark, posts record Tk315cr profit
The fintech company's rising revenue and profits are can be attributed to service expansion, improved user experience, and a growing customer base
The bKash Limited, the country's leading mobile financial services provider, reported record-breaking revenue in 2024, surpassing the Tk5,000 crore mark for the first time, alongside an all-time high profit of Tk315.77 crore.
Moinuddin Mohammed Rahgir, chief financial officer of bKash, told The Business Standard, "bKash, Bangladesh's largest mobile financial service provider, prioritised patient capital and a growth-oriented mindset to ensure business sustainability. With a steadfast commitment to fostering a cashless Bangladesh, bKash made substantial investments over the past decade to enhance technological capabilities, expand service infrastructure, and promote digital literacy among stakeholders, including millions of customers."
He said these strategic efforts have proven successful, accumulating steady growth in revenue in recent years.
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"This accomplishment not only validates the company's business model but also unlocks exciting opportunities for long-term growth and sustainability in the future," he added.
According to the company's financial statement published on its website today (30 April), the BRAC Bank subsidiary achieved 21% growth in revenue to Tk5,058 crore in the last year, while the net profit jumped by 204% to Tk315.77 crore compared to the previous year at the same time.
BRAC Bank holds 51% shares of bKash, while Money in Motion LLC of the US owns 16.45%, Alipay Singapore E-Commerce 14.87%, International Finance Corporation 10.36%, and SVF II BEAM (DE) LLC 7.32% shares.
According to bKash, it currently has around eight crore customers, along with 3.50 lakh agents.
Currently, bKash charges Tk18.50 per thousand for cash out and Tk5 for each fund transfer to another account.
