First Finance

Non-Banking Financial Servicesfirst-finance.com.bd

Company typePublic
Founded1993
HeadquartersDhaka, Bangladesh
Headcount51–100
GTM typeB2B and B2C
OfferingServices

What First Finance does

First Finance PLC is a Bangladesh-based Non-Banking Financial Institution (NBFI) licensed by Bangladesh Bank on October 5, 1999 and listed on the Dhaka Stock Exchange and Chittagong Stock Exchange since October 9, 2003. The company was originally established in 1993 and converted into a public limited company, operating with a paid-up capital of Tk. 1,185.54 million, statutory reserves of Tk. 369.94 million, and authorized capital of Tk. 5,000 million.

The company operates a multi-product lending and deposit platform across three segments: corporate and SME financing, retail financing, and deposit products. Loan products include Lease Finance & Sale-Lease Back (1-5 year tenures, up to 70% of acquisition cost), Real Estate Loans, Car Loans (up to 50% of vehicle value), Working Capital Finance, Women Entrepreneur Loans (10% interest rate, collateral-free up to Tk. 5 Lacs), SME Loans (Tk. 50,000 to Tk. 25 Lacs), Home Loans, and SME financing under Bangladesh Bank refinance schemes (funded by IDA, ADB, JICA). Deposit products include Fixed Deposits (10-12% rates), Double Money Benefit schemes, and Monthly Savings Schemes (Tk. 1,000 to Tk. 10,000 monthly deposits).

The business model is interest-spread-driven, earning the difference between loan yields (10%+ on the women entrepreneur book, market rates on lease/SME) and deposit costs (10-12% on fixed deposits). Distribution is through six branches in Dhaka (HQ, Gulshan, Motijheel), Gazipur, Chattogram, and Sylhet, supplemented by door-to-door service, an online application portal, and financial literacy programs. The company employs 51-100 staff, serves 1,000+ customers, and carries a BBB l / ST-3 credit rating from WASO Credit Rating Company (BD) Ltd. The latest disclosed technology partnership is an October 23, 2024 eKYC agreement with Sheba Technologies Limited. Leadership transitioned in March 2025 with the appointment of Shah Md. Abdul Bari, a 36-year banking veteran formerly of EXIM Bank, as CEO.

First Finance firmographics

Firmographics

Name: First Finance
Legal name: First Finance Limited
Website: https://first-finance.com.bd
Company type: Public
Founded year: 1993
Operating status: Operating
Headcount range: 51–100 employees
Ownership category
akta.pro rank

First Finance industry classification

Industry

Product category: Non-Banking Financial Services
NAICS: Finance and Insurance (52)
SIC: Finance Lessors (6172), Short-Term Business Credit Institutions (6153), Mortgage Bankers & Loan Correspondents (6162), Miscellaneous Business Credit Institution (6159)
akta.pro industry: PRIMARYFSAKAGAB
SME Term Loans & Growth Capital
Financial & Insurance/Lending & Consumer Finance/Small Business & Microenterprise Lending
SECONDARYFSAKAGAE
Supply Chain Finance (Trade Credit, PO/Inventory Financing)
Financial & Insurance/Lending & Consumer Finance/Small Business & Microenterprise Lending

Keywords

Non-banking financial services
Lease financing
SME lending
Term deposit products
Consumer lending

Where First Finance is headquartered

Location

Headquarters

HQ city: Dhaka
HQ country: Bangladesh
HQ region: Asia

Offices6 records

Markets served

First Finance business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

Lease Financing: The company provides lease finance mainly for procurement of industrial machinery, equipment and transport. Financing may be extended up to 70% of the acquisition cost with tenure of 1 to 5 years. This is a core revenue-generating activity for the company.
Term Loan Financing: Provides term loans for various business purposes including working capital, real estate development, and SME financing. Interest income from loans constitutes primary revenue stream.
Deposit Products: Accepts fixed deposits, term deposits, monthly savings schemes, and double money benefit deposits from customers. Interest rates range from 10-12% depending on deposit type and tenure.

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Monthly/Quarterly Profit Term Deposit - 1 year term
Subscription	Annual	Cumulative Term Deposit - Individual Client
Subscription	Annual	Cumulative Term Deposit - Corporate Client
Subscription	Annual	Double Money Benefit Scheme
Unit Pricing	Monthly	Women Entrepreneur Loan
Unit Pricing	Monthly	SME Loan
Unit Pricing	Monthly	Car Loan

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

First Finance product offering

Product offering

Core offering

First Finance PLC is a Bangladesh-based Non-Banking Financial Institution (NBFI) that provides asset-backed lease financing (up to 70% of acquisition cost over 1–5 years), term loan financing, real estate and housing financing, and SME financing (including collateral-free loans up to Tk. 25 million and women entrepreneur loans at a preferential 10% rate). On the funding side, the company accepts fixed deposits, monthly savings schemes, and double-money benefit deposits from retail and institutional depositors, operating through 6 branches and an online application portal.

Product overview

First Finance PLC is a Bangladesh-based Non-banking Financial Institution (NBFI) offering a comprehensive suite of financial products and services. The company operates a multi-product platform comprising loan products (Lease Finance, Real Estate Loan, Car Loan, Working Capital Finance, Women Entrepreneur Loan, SME Loan, Home Loan, and SME Refinance Scheme) and deposit products (Fixed Deposit, Double Money Benefit, and Monthly Savings Scheme). Established in 1993 and listed on Dhaka and Chittagong Stock Exchanges since 2003, the company serves corporate, SME, and retail customers through 6 branches with approximately 1,000+ customers and 30+ years of market presence. The product portfolio focuses on lease financing (2-5 year terms), term loan financing, real estate/housing financing, and SME financing, with particular emphasis on women entrepreneurs at preferential rates.

Differentiator

Problem solved

Functional benefit

Products and services

Lease Finance & Sale Lease Back

Quantifiable outcome

1000+ trusted customers served
+2 more outcomes

Companies that use First Finance

Customer profile

Named customers5 records

Segments6 records

Ideal customer profiles4 records

First Finance technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

First Finance partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

WASO Credit Rating Company (BD) Ltd.minorOthersWASO Credit Rating Company conducted the credit rating of First Finance Limited, assigning Long Term Rating of 'BBB l' (Adequate Capacity) and Short Term Rating of 'ST-3' as of February 2021 with validity until February 2022. Outlook: Stable.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

First Finance competitors and assessment

Company assessment

Direct peers

Phoenix Finance & Investments Limited: Smaller Bangladeshi NBFI offering similar lease financing, term loans, and deposit products. Comparable in scale and product mix to First Finance.
National Finance Limited: Bangladeshi NBFI offering lease financing, term loans, and deposit products. Comparable peer with similar product portfolio and customer base in Bangladesh's NBFI segment.
Bay Leasing & Investment Limited: Bangladesh NBFI with strong lease financing orientation, directly comparable to First Finance's lease finance franchise. Similar target customers in industrial machinery and equipment financing.
United Finance Limited: Bangladeshi NBFI providing lease financing, term loans, and SME financing. Direct comparable in size and product offering with similar customer segments.
IDLC Finance Limited: Largest NBFI in Bangladesh, listed on DSE/CSE, offering similar lease financing, term loans, SME financing, home loans, and deposit products. Most direct competitor with overlapping product portfolio and target segments.
Premier Leasing & Finance Limited: Bangladesh NBFI focused on lease financing and SME lending. Direct comparable on the lease finance and SME product offerings serving similar industrial clients.
LankaBangla Finance PLC: Major Bangladeshi NBFI providing corporate finance, SME loans, home loans, and deposit products. Direct competitor with similar product mix and customer segments across urban Bangladesh.
National Housing Finance and Investment Limited: Bangladesh NBFI focused on housing and real estate financing. Comparable on the home loan and real estate development financing product line.
Industrial Promotion and Development Company (IPDC): Bangladesh's oldest NBFI offering corporate finance, SME financing, and deposit products. Similar product breadth and target customer base in the Bangladeshi financial services market.

Broad incumbents

Delta Brac Housing Finance Corporation (DBH): Specialized housing finance NBFI in Bangladesh. Comparable on home loan and real estate financing products, with broader focus on housing finance segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

First Finance financial estimates

Financial estimate

Revenue estimate

Valuation estimate

First Finance leadership team

Management profile

Number of profiles

Profiles13 records

First Finance funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

First Finance M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Finance

What does First Finance do?

Is First Finance a public or private company?

First Finance is a public company. It is classified as public and is currently operating.

When was First Finance founded?

First Finance was founded in 1993. It employs 51 to 100 people.

Where is First Finance based?

First Finance is headquartered in Dhaka, Bangladesh, in the Asia region.

How does First Finance make money?

Three revenue lines are on record. Lease Financing is the primary driver. The others are term Loan Financing and deposit Products.

Who are First Finance's main competitors?

Direct peers on record are Phoenix Finance & Investments Limited, National Finance Limited, Bay Leasing & Investment Limited, United Finance Limited, IDLC Finance Limited, Premier Leasing & Finance Limited, LankaBangla Finance PLC, National Housing Finance and Investment Limited and Industrial Promotion and Development Company (IPDC). Delta Brac Housing Finance Corporation (DBH) is listed as a broad incumbent.

Does First Finance have an API?

No public API is recorded for First Finance.

What industry is First Finance in?

First Finance's product category is Non-Banking Financial Services. Its primary akta.pro industry code is FSAKAGAB, SME Term Loans & Growth Capital, with a secondary code of FSAKAGAE, Supply Chain Finance (Trade Credit, PO/Inventory Financing). Its NAICS code is 52 and its SIC code is 6172.