Banglalink outshines GP, Robi in revenue, subscriber growths

Banglalink, the third largest telecommunication operator in the country, has outshined two other big operators – Grameenphone and Robi Axiata – in terms of year-on-year revenue and subscriber growths.

While market leader Grameenphone failed to register even 4% year-on-year revenue growth in Q4 2022 and the second largest operator Robi reported 10%, Banglalink recorded a 16.9% revenue growth.

Banglalink officials said the growth was significant in its history and resulted from the continuous investment in network expansion and digital services that enhanced its network speed.

The mobile network operator is far ahead of its competitors in acquiring new subscribers as it has reported 7.1% growth in subscriber base at the end of fourth quarter of 2022 compared to the same period of previous year.

During the time, Grameenphone reported around 5% negative growth while Robi was able to stay in the positive trend with merely 1.4% growth in subscriber base.

At the end of February this year, Banglalink's subscriber base reached to 4 crore, making Bangladesh the second largest market for Netherland-based multinational telecommunication services company Veon Ltd, the parent company of Banglalink, said Kaan Terzioglu, chairman of Banglalink Board and Group Chief Executive Officer of Veon, at a press conference held in Banglalink's head office in Dhaka on Monday.

Apart from Bangladesh, Veon has telecom operations in Ukraine, Pakistan, Kazakhstan, Uzbekistan, Georgia and Kyrgyzstan.

According to the 2022 earnings report recently published by Veon Ltd, Banglalink's revenue in the final quarter of that year was Tk1,437 crore which was 16.9% higher than that of the final quarter of 2021.

"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," said Kaan Terzioglu.

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."

Presenting the financial results, Banglalink Chief Executive Officer Erik Aas, 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. 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," he added.

Among others, Banglalink Chief Financial Officer Cem Velipasaoglu, Chief Commercial Officer Upanga Dutta, and Chief Corporate and Regulatory Affairs Officer Taimur Rahman were present at the event.