United Finance PLC marks 36th anniversary with 46pc profit growth in 2024

United Finance PLC, established in 1989 and currently providing financial services through a network of 23 offices spread across the country, completed its 36th year of service on 27th April 2025.

The management and the staff celebrated the occasion with due fervour in all its regional and branch offices. Special functions were held where its customers and clients got together, promising continued and better services to uphold the dedication and integrity which is the hallmark of the company’s reputation., said a press release. 

The following day, the occasion was further marked by the 231st meeting of the Board of Directors at the head office, where the audited Financial Statements of the company for the financial year ended on 31st December 2024, were presented.

United Finance PLC posted a robust 46.21% year-on-year growth in net profit, reaching Tk 20.92 crore for 2024, reflecting strong operational performance and prudent financial management amid a challenging economic environment.

The Company's earnings per share (EPS) rose to Tk 1.12 from Tk 0.76 a year earlier, according to its disclosure.

UFPLC attributed its strong performance to its diversified portfolio across Cottage, Micro, Small, and Medium Enterprises financing, women entrepreneur financing, affordable home loans, and a firm commitment to sustainability and responsible lending. In 2024, operating profit rose to BDT 54.55 crore, up from BDT 31.53 crore in the previous year. 

Driven by efficient collection and monitoring efforts, net operating cash flow per share surged significantly to Tk 4.27, up from Tk 0.76 last year.

The Board of Directors has recommended a 10% cash dividend for 2024, amounting to Tk 18.71 crore. UFPLC’s net asset value (NAV) stood at Tk 333.82 crore at year-end, with NAV per share increasing to Tk 17.84. The Record Date for dividend entitlement has been scheduled for 21 May 2025, and the Annual General Meeting (AGM) will be held on 24 June 2025.

United Finance PLC continues to pursue sustainable growth through digital transformation, diversified financing, and resilient portfolio strategies, as emphasised by the Managing Director. He also expressed his appreciation and thanked the borrowers and depositors for their diligent and timely meeting of their obligations, which has been the key reason for the success of United Finance PLC.