IPDC's profit rises 10.7pc

IPDC Finance's profit rose 10.7 percent year-on-year to Tk 33.54 crore in 2017 and the local non-bank financial institution announced 20 percent stock dividend for its shareholders.

The disclosure came at IPDC's 13th extraordinary general meeting and 36th annual general meeting held at Spectra Convention Centre in Dhaka yesterday.

"It is a great pleasure to announce that IPDC has successfully completed the second year of five-year strategy by accomplishing the expected promising growth," Muhammad Musa, chairman of IPDC Finance.

"At IPDC, we believe this success will boost the confidence of our stakeholders by giving them a clear vision for the upcoming years."

Mominul Islam, managing director and CEO; Samiul Hashim, company secretary, were present at the meetings, IPDC said in a statement yesterday.

A large number of the company's shareholders attended the meeting, according to the statement.

The major shareholders of IPDC are Brac, Aga Khan Foundation, the government of Bangladesh and RSA Capital.