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2020: Solid operational performance amidst economic uncertainty

Jan 28 2021

[Dhaka, January 28, 2021] Grameenphone Ltd. reported total revenues of BDT 139.6 billion for the year of 2020, registering a 2.8% annual de-growth. The company acquired 2.6 Mn new subscribers during the year, having grown 3.4% from the end of the previous year. Total subscribers at the end of 2020 stood at 79.0 Mn, of which 41.3 Mn, or 52.2%, are using internet services. 

“During the fourth quarter, we reached more than 14,000 4G sites, and witnessed a promising growth of 65.6% in 4G users, ending 2020 with 19.8 Mn customers empowered with 4G, which is a major milestone while entering 2021. Economic recovery in the fourth quarter was lower-than-expected, impacting us in a year full of unprecedented challenges amidst the COVID-19 pandemic. Through collaboration and dialogue, we have resolved several regulatory issues during this period. We have been successful in ensuring uninterrupted operations in our network and distribution value chain while expanding our network operations through our Tower Co. partner in the fourth quarter.” said Yasir Azman, CEO of Grameenphone Ltd. “While uncertainties remain from COVID-19, we are committed to using our technology expertise and digital know-how in aiding the recovery from this pandemic by bringing in innovative products and services for our customers. We believe in meaningful consultations that can enrich our service propositions and facilitate the country towards growth.”

“Grameenphone is reporting a year over year degrowth of 3.7% in total revenues for the fourth quarter of 2020. A solid operational performance despite economic uncertainty with strong acquisition drive led to 1.4 Mn new subscribers in the fourth quarter. Net profit after tax for the period stood at BDT 10.3 Bn with 29.7% margin. In 2020, data revenue increased by 14.0% while data usage grew by 60.6% compared to the previous year.” said Jens Becker, CFO of Grameenphone Ltd. “We are pleased to announce that the Board of Directors have recommended a final dividend of BDT 14.5 per share for our honorable shareholders.”

The Board of Directors of Grameenphone Ltd. have recommended 27.5 BDT dividend per share for the full year 2020 based on the decision taken at the Board Meeting held on 27 January 2021. With this, the total cash dividend stands at 275% of paid-up capital which represents 99.86% of Profit After Tax for the year 2020 (including 130% interim cash dividend). The Shareholders as of the record date of 17 February 2021 will be entitled for this final dividend, which is subject to the Shareholders’ approval at the 24th AGM to be held on 19 April 2021.

During the fourth quarter, Grameenphone Ltd. invested BDT 4.0 Bn (excluding license & lease) for network coverage. The total number of sites stands at 16,547. The company has paid BDT 98.2 Bn equaling 70.4% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment in the year of 2020. 

Detailed Financial Statements are available at:

Md Hasan,
Head of External Communications
Phone: 8801711082469


About Grameenphone Ltd.

Grameenphone, part of the Telenor Group, is a leading telecommunications service provider in Bangladesh with more than 76 million subscribers. Since its inception in 1997, Grameenphone has built the largest cellular network in the country, covering nearly 95 percent of the country’s population. With its brand promise to enable customers to “Go beyond,” Grameenphone seeks to help customers get the full benefit of mobile data and voice services and provide Internet For All. Grameenphone is listed on the Dhaka Stock Exchange.