Home ›› 21 Mar 2023 ›› News
Banglalink has recorded double-digit growth in annual revenue in 2022, thanks to its expanded coverage and enhanced network speed achieved by increased investment in the 4G network.
Its customer base also expanded last year as a result of innovative and improved digital services.
According to the annual financial report of 2022 published recently by Banglalink’s parent company VEON Ltd, the telecom service provider’s annual revenue in 2022 increased by 12.1% YoY (Year on Year) to Tk 5,374 crore, maintaining double-digit growth for three consecutive quarters.
Banglalink’s annual service revenue in 2022 grew by 12.3% YoY, while the annual data revenue grew by 26.6% YoY, said its Chief Executive Officer Erik Aas at a press conference in the capital’s Gulshan on Monday.
Kaan Terzioglu, chairman of Banglalink Board and chief executive officer of VEON Group, Cem Velipasaoglu, chief financial officer of Banglalink, Upanga Dutta, chief commercial officer of Banglalink, and Taimur Rahman, chief corporate and regulatory affairs officer of Banglalink, were also present at the event.
Toffee, Banglalink’s digital entertainment platform, played a pivotal role in Banglalink’s rise to the leading position in the digital segment in Bangladesh.
Toffee’s monthly active users were 2.12 crore at the end of 2022. The exclusive live-streaming of FIFA World Cup last year contributed significantly to its popularity as the average daily active users of Toffee increased 5-fold YoY to 52 lakh.
Banglalink’s self-service mobile app, MyBL Super App, gained momentum as its monthly active users increased to 57 lakh at the end of the year.
Moreover, Banglalink’s subscribers grew by 7.1% YoY during the last quarter of 2022.
Banglalink’s growth was achieved by its 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 four crore subscribers recently.
In addition to winning the Ookla Speedtest Award as the fastest mobile network in the country for the 6th consecutive time in three years, Banglalink also had the highest number of new subscribers among all the operators in 2022.
At the press conference, Kaan Terzioglu said, “It is great to see that VEON’s consistent investment in Bangladesh is yielding good results.”
He said, “Banglalink’s double-digit revenue growth for three consecutive quarters is a testament to its success in gaining customers’ trust. As a part of our digital operator strategy, Banglalink is on track to enhance its growth while contributing to the realisation of a Smart Bangladesh through consistent delivery of high-quality services to the thriving digital market of Bangladesh.”
Banglalink CEO Erik Aas said, “Being a national operator, Banglalink has embarked on a new era of growth as a digital powerhouse in 2022, delivering exceptional results in all segments.”
