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IDLC Finance PLC
Bangladeshi financial services company From Wikipedia, the free encyclopedia
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IDLC Finance PLC, formerly known as Industrial Development Leasing Company of Bangladesh Limited (IDLC),[3] is a multi-product non-banking financial institution with headquarters in Dhaka, Bangladesh.[4] It offers financial services in the form of small and medium enterprise (SME) finance products, supplier and distributor finance, corporate finance, structured finance, retail finance, deposits and treasury products.[5][6] The IDLC group also provides merchant banking, stock broker and asset management services via its three subsidiaries, IDLC Investments Limited, IDLC Securities Limited and IDLC Asset Management Limited, respectively.[7][8]
 | This article may rely excessively on sources too closely associated with the subject, potentially preventing the article from being verifiable and neutral. (August 2017) |
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History
IDLC was established in 1985 by the initiation of IFC of the World Bank.[9] The company was formed via collaboration of International Finance Corporation, German Investment and Development Company, Korea Development Financing Corporation, Aga Khan Fund for Economic Development, Kookmin Bank, IPDC Finance Limited of Bangladesh and Sadharan Bima Corporation. It has since emerged as a fully locally owned financial institution.[10]
The Emerging Credit Rating Limited (ECRL) has given AAA long term credit rating and ECRL-1 short term credit rating to the IDLC Finance Limited.[11][12][13]
On August 2024, IDLC promoted one person to AMD and two to DMD after 2024 Bangladesh quota reform movement.[14]
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Subsidiaries
The following are the subsidiaries for IDLC Finance PLC:[15]
- IDLC Securities Limited
- IDLC investments Limited
- IDLC Asset Management Limited
Shareholders
List of top largest shareholders of IDLC:[16]
City Bank PLC (23.31%):
- City Bank PLC (9%)
- City Bank Capital Resources Ltd. (9.9%)
- City Brokerage Ltd. (4.31%)
Transcom Group (13.33%):
- SK+F (8%)
- Transcraft Ltd. (4.01)
- Bangladesh Lamps Ltd. (1.32%)
Mercantile Bank PLC (5.5%):
- Mercantile Bank PLC (3.5%)
- Mercantile Bank Securities Ltd. (2%)
Investment Corporation of Bangladesh (8.12%)
Sadharan Bima Corporation (7.62%)
See also
References
Further reading
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