Banglalink retains growth momentum in Q1
Banglalink has continued its growth momentum with strong performance in the first quarter of 2023 and posted a 17.7 per cent rise in revenue, compared to the previous year’s same month.
According to its parent company VEON, Banglalink's total revenue for the quarter rose to Tk 1,4.62 billion.
The achievement has been attributed to Banglalink's superior network speed, expanding coverage and innovative digital services that have consistently delivered attractive value propositions to its customers, read a press release.
Banglalink's digital operator strategy, in line with VEON’s award winning Digital Operator 1440 model, has been instrumental in establishing a growing inclination towards the usage of innovative digital services in Bangladesh, as demonstrated by the growing customer preference for Toffee: Bangladesh's first User-Generated Content (UGC) platform.
The digital entertainment app served 11.7 million monthly active users with two million average daily active users in the period. Additionally, Banglalink's self-service super app MyBL has gained significant traction with its monthly active user base reaching 6.2 million. This app is a one-stop solution for customers seeking healthcare, education, and entertainment services.
Banglalink’s service revenue in the quarter grew by 18 per cent YoY, maintaining its double-digit growth for 4 consecutive quarters. Banglalink’s data revenue increased by 35 per cent YoY.
The company also reached a significant milestone by achieving a subscriber-base of 40 million.
Furthermore, according to a report published by the Bangladesh Telecommunication Regulatory Commission (BTRC) in March 2023, Banglalink continued to gain the most subscribers among all operators in the country as per month-on-month, quarter-on-quarter and year-on-year counts.
The growth trajectory is a testament to Banglalink’s commitment to becoming a national operator, by expanding network coverage and offering innovative digital services.
Erik Aas, chief executive officer of Banglalink, said, “Banglalink, as a digital operator, got off to a strong start this year with continued double-digit growth. One of the key factors to this consistent success is our digital operator strategy, aimed at creating a new digital ecosystem with the introduction of innovative digital services.
“Our transformation to a national operator also played a role in maintaining the growth momentum. Millions of customers from all over the country are now choosing Banglalink as their preferred operator because of our improved 4G network availability and diverse digital services portfolio.”