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Banglalink posted double-figure growth in 2022 in addition to bagging the highest subscribers during the period driven by increased investment in 4G network, expanding coverage and enhancing network speed.
The telecom company's revenue rose 12.1 per cent year on year (YoY) to Tk 53.74 billion, showed the 2022 earnings report by Veon Ltd, the carrier's parent company.
With a 40-million subscriber base of Banglalink, Bangladesh has become the second-largest market of Veon, according to information available with the company.
This was the third double-digit growth in consecutive quarters, according to an official of the telco.
Banglalink's annual service revenue in 2022 grew by 12.3 per cent YoY while the annual data revenue escalated by 26.6 per cent YoY.
The announcement was made by Erik Aas, chief executive officer of Banglalink, at a press conference at the cellular carrier's head office in Dhaka on Monday.
Also present at the event were Kaan Terzioglu, chairman of Banglalink Board and Group CEO of VEON, Cem Velipasaoglu, chief financial officer of Banglalink, Upanga Dutta, chief commercial officer, and Taimur Rahman, chief corporate and regulatory affairs officer.
Mr Terzioglu said, "Banglalink's double-digit revenue growth for three consecutive quarters is a testament to its success in strengthening customer trust.
"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."
The innovative and improved digital services also expanded the customer base last year, said Mr Erik.
"Banglalink 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."
He said by extending the fastest 4G network and delivering superior digital services to every corner of the nation, Banglalink has achieved the status of a truly national operator.
Banglalink, one of the leading digital communication service providers in Bangladesh, also highlighted Toffee, its digital entertainment platform, for playing a pivotal role in the telco's rise to the leading position in the digital segment.
Toffee's monthly active user base reached 21.2 million at the end of 2022, heavily influenced by its exclusive live-streaming of the FIFA World Cup Qatar 2022.
Banglalink's subscribers grew by 7.15 per cent YoY during the fourth quarter of 2022.
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