Bkash Continues To Show Significant Growth In 20212 min read

bKash, the leading mobile financial services company in Bangladesh has recently posted its financial statement for the period of 2021. The company recorded another splendid year in terms of business growth as they focused on product development and market penetration, harnessing technological breakthroughs for sustaining business momentum. Gross revenue grew by 21.8% YoY from Tk 26,245 Mn in 2020 to Tk 31,963 Mn in 2021. Loss after tax increased by 83.0% YoY from Tk 674 Mn in 2020 to Tk 1,234 Mn in 2021.


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Net Revenue (Revenue deducting VAT) increased by 21.1% YoY from Tk 23,071 Mn in 2020 to Tk 27,945 Mn in 2021. The increase in revenue is mainly due to an increase in the number of customers and higher transaction volume compared to 2020. During the year, more than 5.86 trillion transactions were recorded over the platform. Total customers in 2021 were 57.6 Mn which was 50.5 Mn in 2020. Active customers increased by 18.8% YoY from 27.6 Mn in 2020 to 32.8 Mn in 2021. Active Customer Ratio (Active Customers divided by Total Customers) was 56.9% in 2021 which was 54.7% in 2020.

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Loss after tax increased by 83.0% in 2021 as the company kept on investing in product development and marketing. Net finance income decreased significantly from Tk 511.9 Mn in 2020 to Tk 60.5 Mn in 2021.

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The decrease in net finance income is mainly due to a lower rate of return earned from the bank balances of the company. Operating and administrative expenses increased from Tk 4,822.2 Mn in 2020 to Tk 5,859.4 Mn in 2021. Commercial expenses decreased from Tk 2,634.7 Mn in 2020 to Tk 2,372.9 Mn in 2021.

Future Ahead

Although some might point out the continuous loss generation of the company for a Fintech like bKashit is not the main indicator of success right now. The company is now rightly focusing on customer acquisition and enhancing stickiness within the platform. The company wants to become more than a transferring money platform and it is moving closer to its goal.

In 2021, the company introduced a loyalty program that rewards bKash customers points for every transaction they make. The move has been made to increase transactions per customer which will boost overall transaction volume and with that the gross revenue of the company. The move seems to have the right impact as the company posted a 36% growth in transaction volume from 2020.

BKashalso introduced a savings product in collaboration with IDLC which will now allow bKash customers to start a DPS scheme without the need to go to any financial institutions. The product can be a game-changer as it will give access to savings schemes to millions of people in rural areas. The company has also explored nano loan products in collaboration with City Bank. Both products can be availed by bKash customers through their bKashwallets.

So, it can be said that bKashhad another successful year through their focus on product development and customer acquisition. Softbank Group, one of the globally reputed multinational conglomerates of Japan decided to buy a 20% stake in Japan. It is a testament to the strength of bKashhas the Japanese firm has stakes in globally reputed startups like Uber, Alibaba, Paytm, etc.

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