IPDC Finance PLC has reported a net profit of Tk 36.3 crore for the year that ended on December 31, 2024, reflecting a year-on-year increase of 5.9 percent.

The non-bank financial institution (NBFI) demonstrated resilient financial performance over the year, recording an operating profit of Tk 176.5 crore, a notable 35.8 percent rise compared to the previous year.

As of year-end 2024, IPDC's gross asset portfolio reached Tk 7,904.8 crore, representing a 5.3 percent increase on the prior year. The company's investment portfolio comprising government securities and other financial instruments experienced a remarkable surge of 110.5 percent during the same period.

This significant growth contributed to a robust uplift in investment income, which rose by Tk 45.2 crore, marking an impressive 194.6 percent year-on-year increase, according to a press release.

Despite a marginal contraction in its loan book, the institution reported a gross interest income of Tk 881.1 crore up 18.5 percent year-on-year largely driven by prevailing higher interest rates.

However, interest expenses also escalated by 28.1 percent, owing to elevated deposit costs, policy rate increases implemented by Bangladesh Bank, and persistent liquidity pressures within the financial sector.

Total operating income rose to Tk 324.2 crore in 2024, reflecting an 11.7 percent increase from the previous year, buoyed primarily by strong investment returns.

In response to the shifting macroeconomic landscape, IPDC adopted a cautious and strategic approach to corporate lending, redirecting focus towards small-ticket SME financing, consumer loans, and low-risk investments.

Notably, the company's investment in government securities more than tripled from Tk 161.2 crore in 2023 to Tk 520.6 crore in 2024 thereby ensuring a stable and secure income stream amidst challenging economic conditions.

IPDC maintained robust credit risk management practices throughout the year, successfully containing its non-performing loan (NPL) ratio at 5.83 percent despite significant external pressures.

To safeguard the quality of its portfolio, the company increased its accumulated provisions by 18.4 percent, bringing the total to Tk 357.1 crore as of year-end.

Through strategic optimisation of resources, selective recruitment, and operational streamlining, IPDC curtailed its operating expenses by Tk 12.4 crore, or 7.8 percent year-on-year, all while preserving organisational stability and productivity.

Customer deposits stood at Tk 5,176.1 crore as of December 31, 2024, registering a 2.1 percent increase, despite subdued market sentiment across sections of the financial sector.

IPDC continued to maintain a strong foothold in the market, holding over 11 percent of the total deposit share among NBFIs.