IPDC Finance has logged in Tk 50.3 crore during the January-September period quarter, up 13.4 per cent year-on-year.
The company also ended Q3’20 with a strong liquidity cushion of Tk 825.9 crore – enough to meet its short-term obligations and all time highest till date.
IPDC revealed the information at its Q3 ’20 investors meet to discuss the financial highlights, benchmarks, and key strategies ahead on Sunday.
Investors, industry experts, stakeholders, and a wider audience through Facebook live attended the session from the company’s official page.
IPDC Finance Managing Director and CEO Mominul Islam shared the Q3’20 financial highlights company’s future strategy post Covid-19.
Despite the pandemic, IPDC has outperformed its own performance compared to the same period last year. It has maintained a strong capital base with an adequacy ratio of 17.50 per cent.
During 2020, IPDC’s customer deposit has increased by 20.5 per cent compared to December 2019 due to its innovative deposit campaigns, revenue has grown by 29.1 per cent year-over-year while its classified loan ratio of 1.59 per cent remains the lowest in the sector amongst the publicly listed diversified NBFIs.
Speaking at the session, Mominul Islam said that Bangladesh’s remarkable economic recovery has left the world astounded with its record highest liquidity surplus.
Like Bangladesh, IPDC has been able to achieve its all-time highest liquidity due to its good corporate governance, proactive planning, and taking responsibility of its customers, employees and the community, he added.
While presenting, Mominul Islam emphasized on the technology enabled and socially responsible business models focusing on cottage, micro, small and medium enterprises (CMSMEs) and women and young entrepreneurs, and lower middle income households outside Dhaka and Chittagong.
