Monday, 29 May, 2023

Banglalink posts double-digit growth

The company’s annual revenue in 2022 increased by 12.1pc year-on-year to Tk 5,374 crore

  • Staff Correspondent
  • 21 March, 2023 12:00 AM
  • Print news

Banglalink has recorded a double-digit growth rate in its annual revenue in 2022, propelled by its increased investment in 4G network.

The investment resulted in its expanded coverage and enhanced network speed. Its innovative and improved digital services also expanded its customer base last year, the telecom operator said.

According to the 2022 earnings published recently by Banglalink’s parent company VEON Ltd., Banglalink’s annual revenue in 2022 increased by 12.1% year-on-year to Tk 5,374 crore, thanks to its continuous double-digit growth momentum in three consecutive quarters.

Banglalink’s annual service revenue in 2022 grew by 12.3% year-on-year, while the annual data revenue surged by 26.6%.

Banglalink Chief Executive Officer Erik Aas disclosed the data at a press conference yesterday.

Chairman of Banglalink Board and Group Chief Executive Officer of VEON Kaan Terzioglu, Chief Financial Officer of Banglalink Cem Velipasaoglu, Chief Commercial Officer Upanga Dutta and Chief Corporate & Regulatory Affairs Officer Taimur Rahman were also present.

Toffee, Banglalink's digital entertainment platform, played a pivotal role in Banglalink’s rise to the leading position in the digital segment in Bangladesh, the company said.

 Toffee’s monthly active user base reached 2.12 crore at the end of 2022. The exclusive live streaming of FIFA World Cup Qatar 2022TM last year contributed significantly to its popularity as the average daily active users of Toffee rose five-fold compared to previous year, reaching 52 lakhs.

Banglalink’s self-service mobile app, MyBL Super App, gained momentum as its monthly active users reached 57 lakhs at the end of the year.   

Banglalink’s subscribers grew by 7.1% during the fourth quarter of 2022 from the same period a year ago, which is a key milestone achieved during the last quarter of the year.

Banglalink’s growth was supported by the relentless drive for nationwide network expansion and technological advancement. 

Banglalink expanded its network coverage by around 40% last year, increasing its total sites to more than 14,100. Banglalink’s superior network quality and advanced digital services were instrumental in reaching the landmark of a 4 crore-subscriber base recently.

In addition to winning the Ookla® Speedtest Award™ as the Fastest Mobile Network in the country for the sixth consecutive time in three years, Banglalink also racked up the highest number of new subscribers among all the operators in 2022.  

Chairman of Banglalink Board Kaan Terzioglu said, “It is great to see VEON’s consistent investment in Bangladesh yielding pronounced results. Banglalink’s double-digit revenue growth for three consecutive quarters is a testament to its success in strengthening customers’ trust."     

He said, "As a part of our Digital Operator Strategy, Banglalink is on track to enhance its growth whilst contributing to the realisation of a Smart Bangladesh through consistent delivery of high-quality digital services to the thriving digital market of Bangladesh.” 

 Erik Aas, Chief Executive Officer of Banglalink, said, “Banglalink, as a National Operator, embarked on a new era of growth as a digital powerhouse in 2022, delivering exceptional results across all segments."

"Our growth rate surpassed that of the industry by a two-fold margin, and by extending our fastest 4G network and delivering superior digital services to every corner of the nation, we have achieved the status of a true National Operator," he said.

Aas continued, "Armed with our unparalleled speed and nationwide reach, we are poised to serve our customers with top of the line connectivity in the coming years."