Banglalink has recorded a double-digit growth rate in its annual revenue in 2022, propelled by its increased investment in 4G network that resulted in its expanded coverage and enhanced network speed.
According to the 2022 earnings release published recently by Banglalink’s parent company VEON Ltd, Banglalink’s annual revenue in 2022 increased by 12.1% YoY (Year on Year) to BDT 5,374 crore, thanks to its continuous double-digit growth momentum in three consecutive quarters, said a press release.
Banglalink’s annual service revenue in 2022 grew by 12.3% YoY, while the annual data revenue grew by 26.6% YoY.
Erik Aas, Chief Executive Officer of Banglalink came up with the announcement while talking at a press conference held in the city on Monday.
Its innovative and improved digital services also expanded its customer base last year.
Kaan Terzioglu, Chairman of Banglalink Board and Group Chief Executive Officer of VEON, Cem Velipasaoglu, Chief Financial Officer of Banglalink, Upanga Dutta, Chief Commercial Officer of Banglalink, and Taimur Rahman, Chief Corporate & Regulatory Affairs Officer of Banglalink were 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 user base reached 2.12 crore at the end of 2022.
The exclusive livestreaming of FIFA World Cup Qatar 2022TM last year contributed significantly to its popularity as the average daily active users of Toffee rose 5-fold YoY, reaching 52 lacs.
Banglalink’s self-service mobile app, MyBL Super App, gained momentum as its monthly active users reached 57 lacs at the end of the year.
Banglalink’s subscribers grew by 7.1% YoY during 4Q22, which is a key milestone achieved during the last quarter of the year.
Banglalink’s growth was supported by the 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 a 4.0 Crore subscriber base recently.
In addition to winning the Ookla®️ Speedtest Award™️ as the Fastest Mobile Network in the country for the 6th consecutive time in 3 years, Banglalink also racked up the highest number of new subscribers among all the operators in 2022.
Kaan Terzioglu, Chairman of Banglalink Board and Group Chief Executive Officer of VEON, said, “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.
As a part of our Digital Operator Strategy, Banglalink is on track to enhance its growth whilst contributing to the realization of a Smart Bangladesh through consistent delivery of high-quality digital services to the thriving digital market of Bangladesh.”
Erik Aas, Chief Executive Officer of Banglalink, 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 unparallel speed and nationwide reach, we are poised to serve our customers with top of the line connectivity in the coming years."
Banglalink is steadfast in its unwavering dedication to delivering seamless connectivity and superior digital services to its valued customers.