IPDC Finance publish financial performance report 2021 

Picture: Courtesy

IPDC Finance Limited has recently announced its financial and business performance in 2021 along with future plans in the company's annual investors' meet via an online session. 

The loan portfolio of IPDC has grown by 21.9% from the previous year, reads a press release. 

This growth has been possible due to the notable growth of SME and Emerging Corporate loan portfolios. 

In 2015, 79% contribution of the total loan portfolio came from Corporate loans whereas SME and Emerging Corporate loans and Retail loans contributed only 11% and 10% respectively. 

In 2021, the contribution from SME and Emerging Corporate loans has risen to 31%. For retail loans, the number is 22%. Considering the impact of SME loans and Retail loans on the socio-economic development of Bangladesh, special focus was given to these two products. 

In 2021, customer deposit of IPDC has grown by 17.3%. As per Mominul Islam, the growth of customer deposits is reducing dependency on Bank borrowing for fund collection. In 2018, bank dependency on the source of funds was 29%. 

It has come down to only 5% in 2021 whereas the contribution of customer deposits as a source of funds has gone up to 68%. In this period, IPDC's revenue has increased by 21.7%. 

Even after keeping an adequate amount as a provision, the company has earned a net profit of Tk881 million which is 24.9% more than the previous year. At the end of 2021, IPDC has ensured a contingency liquidity reserve of Tk1,340 million. 

At the end of the session IPDC Managing Director Mominul Islam said, "As we have just passed the 50-year landmark of our independence, IPDC reinstates its commitment to be a partner of the socio-economic development of the country as a financial intermediary."