An old, large non-bank lender with a top credit rating and a dependable 15% cash dividend, its profit recovering after a three-year dip.

IDLC Finance PLC is a non-bank financial company — not a bank, but it does similar lending work. It has been listed on the Dhaka Stock Exchange since 1992, which makes it one of the oldest institutions of its kind in the country, with more than 30 years of history.

It is a sizable institution: about 45.8 crore shares, paid-up capital of about 458 crore taka, and built-up reserves of about 1,596 crore taka. Its balance sheet runs to roughly 14,000-plus crore taka in total assets.

Among the non-bank finance companies listed on the exchange — names like DBH Finance, United Finance, IPDC Finance and LankaBangla Finance — IDLC sits among the larger and more established players.

Like other non-bank lenders, IDLC's main business is lending. It raises money from depositors and by borrowing, then lends it out to people and businesses at a higher rate. The difference between the interest it earns and the interest it pays is its core income.

On top of that spread, it collects fees and earns from its own investments. Its borrowings have actually been shrinking — from about 3,667 crore taka in 2021 to about 2,783 crore taka at the end of 2024 — which points to a business managing its funding carefully rather than chasing growth at any cost.

Because its income depends on interest rates and on borrowers repaying on time, its profits move with the wider economy and the financial health of its customers.

Yes, it makes money every year, but the ride has been bumpy. Net profit slid from about 254 crore taka in 2020 to about 211 crore (2021), about 191 crore (2022), and down to about 151 crore in 2023 — three straight years of decline.

Then it recovered: about 200 crore taka in 2024 and about 243 crore in 2025. That is a strong rebound, though the 2025 figure is still a shade below the 2020 level. Across the whole 2020–2025 stretch, net profit is down about 4%.

Profit per share tells a slightly worse story — down about 17% over the same period. The reason is that the company hands out bonus shares in some years (a 5% stock dividend in 2020, 2021, 2024 and 2025), so the same profit is divided across more shares, pulling the per-share number down even as total profit recovers.

IDLC looks financially solid. Its borrowings have come down steadily — from about 3,667 crore taka in 2021 to about 2,783 crore in 2024 — while its reserves have grown to about 1,596 crore taka, on top of paid-up capital of about 458 crore. The accounting value of what it owns per share has risen every year, from about 40 taka in 2020 to about 50 taka in 2025.

Its operations throw off cash: operating cash flow was positive in each of the last few years (about 140 crore taka in 2021, then about 73, 87 and 189 crore through 2024). An outside agency also affirmed its highest long-term credit grade ("AAA") in early 2026 — a sign that lenders regard it as very safe.

The one caution: the loans it has out (about 3,196 crore taka) are a little more than double its built-up reserves (about 1,596 crore). That is normal for a lender, but it means a spell of bad loans would eat into its safety cushion.

IDLC has a steady dividend record. It has paid a 15% cash dividend (1.5 taka per share on the 10-taka face value) in every one of the last six years, from 2020 through 2025 — an unbroken run.

On top of the cash, it has handed out bonus shares (a 5% stock dividend) in 2020, 2021, 2024 and 2025. So in most years shareholders receive both a little cash and a few extra shares.

The cash dividend looks safe. Even in its weakest year — 2023, when it earned about 3.64 taka per share — the 1.5-taka payout was comfortably covered by profit, and the company keeps the larger part of its earnings inside the business. Paying some and retaining some is typical of a lender still building its base.

IDLC's main strengths are its long history and its size. Being on the market since 1992 and carrying reserves of about 1,596 crore taka gives it a well-established name and a solid base — both valuable in lending, where trust and cheap funding matter.

Its top "AAA" credit rating (affirmed in early 2026) is a genuine advantage: it can usually borrow more cheaply than weaker rivals, which widens the gap between what it earns and what it pays. Among its listed non-bank peers — DBH Finance, United Finance, IPDC Finance, LankaBangla Finance and ICB — it sits among the larger, steadier names.

That said, its edge is defensive rather than explosive. Profit is only now climbing back toward where it stood six years ago, so this is a steady, established lender rather than a fast grower.

• Profit has turned back up — from a low of about 151 crore taka in 2023 to about 243 crore in 2025, and early-2026 quarterly earnings came in higher than a year earlier.
• A rock-solid dividend habit: 15% cash every year for six years running, well covered by earnings.
• A conservative balance sheet: borrowings fell from about 3,667 crore taka (2021) to about 2,783 crore (2024), and it holds the top "AAA" credit rating.
• Asset value per share keeps rising (from about 40 taka in 2020 to about 50 taka in 2025), showing the company steadily builds worth.
• Strong ownership: sponsors and directors hold about 35% and institutions about 51%, so informed, long-term owners control most of the shares.

• Profit per share is still below its 2020 level (down about 17% over 2020–2025), partly because bonus shares keep dividing profit across more shares.
• The loans it has out (about 3,196 crore taka) are more than double its reserve cushion (about 1,596 crore), so a rise in bad loans would hurt.
• As a lender, its earnings depend on interest rates and on customers repaying — a weak economy pressures both.
• Growth is slow: it took two years of recovery just to bring profit back near the 2020 level, so patience is required.
• Very little foreign ownership (about 0.66%) and a thin public float (about 13%) mean limited outside validation and fewer freely traded shares.

IDLC suits a patient investor who values stability and a reliable dividend over quick gains. It is an old, large, highly-rated non-bank lender with a dependable 15% cash payout and a balance sheet that has been getting more conservative.

The trade-off is modest growth: profit is only now recovering to its 2020 level, and bonus shares have held back the per-share figure. If you want a fast grower, this is not it.

The main things to watch are the health of its loan book (loans out are about twice its reserves) and the wider interest-rate and economic climate, since both drive a lender's profits. For the current price view, check the live value estimate shown beside this report.