Beximco becomes ‘Client of the Year’

Janata Bank named Beximco Group, one of the biggest industrial conglomerates in Bangladesh, the 'largest exporter and best customer of 2020. 

Exports by Beximco in 2020 amounted to Tk 47.13 billion, while the imports were valued at Tk 23.26 billion. The bank said in a statement that it would hand over a trophy to Beximco.

Beximco paid about Tk 4.27 billion to Janata Bank in 2020 in installments for rescheduled or restructured loans, according to the statement. The bank, on the other hand, earned a total of Tk 4.84 billion from the company in 2020.

Founded in the 1970s, the Beximco Group has operations and investments across a wide range of industries, including textiles, pharmaceuticals, PPE, ceramics, real estate development, construction, trading, marine food, information and communication technology, media, DTH, financial services and energy. Salman F Rahman and ASF Rahman had founded the Beximco Group and initially exported and imported jute, until he and his brother realized the opportunities before them if they diversify Beximco Group’s business.

Salman F Rahman noticed that Bangladesh did not have a strong healthcare and medicine infrastructure. This is where the Rahman brothers diversified their business first. Beximco Pharmaceuticals was born in 1980 as a result, and is presently an international pharmaceutical juggernaut. In 2017, Beximco Pharma’s annual revenue was recorded to be BDT15.5 billion.

The leadership of the brothers took Beximco Group to new heights. The success in pharmaceuticals motivated them to expand their operations to petroleum, banking, aviation, real estate, textiles, power generation, Information Technology, ceramics, and more. The Beximco Park is a testament to the evolution of the import-export company into a multinational conglomerate.

Owing to his rich experience of more than 45 years in the field, Salman F Rahman was appointed as Awami League’s private sector development adviser. An environment promoting business was created at that time, boosting GDP growth rate by 7.2% in 2016, and 7.1% in 2017. Before that, debt fell by 32.4% in 2015 due to the government’s bullish approach.