bKash posts Tk308cr profit in H1

bKash Limited, the country's leading mobile financial services (MFS) provider, has announced a substantial profit of Tk307.70 crore for the first six months of the current year.

According to the company's financial statement, this marks a remarkable 182% increase in profit compared to the same period last year. During the January-June period, revenue of bKash, a subsidiary of BRAC Bank, also saw a robust 30% growth, reaching Tk3,205 crore.

In the second quarter (April-June), its revenue surged by 26% to Tk1,568.60 crore, while the net profit jumped by 350% to Tk175.82 crore.

Moinuddin Mohammed Rahgir, chief financial officer of bKash, told TBS, "At bKash, we firmly believe in the power of patient capital and a growth-oriented mindset to build a truly sustainable business.

"Our decade-long investments in enhancing technological capabilities, expanding our service infrastructure, and fostering digital literacy among millions of customers have been pivotal."

He further said, "The efforts in providing innovative digital financial services to millions have resulted in a steady revenue growth in recent times, which not only validates our robust business model but also lays a strong foundation for long-term growth and sustainability."

BRAC Bank holds a 51% share in bKash. Other significant shareholders include Money in Motion LLC of the US with 16.45%, Alipay Singapore E-Commerce with 14.87%, International Finance Corporation with 10.36%, and SVF II BEAM (DE) LLC with 7.32% shares.