United Finance

What United Finance does

United Finance PLC is a publicly listed Non-Bank Financial Institution (NBFI) headquartered in Dhaka, Bangladesh, founded in 1989 and operating across 23 branches that collectively cover all 64 districts of the country — the widest national footprint among Bangladeshi NBFIs. The company is listed on the Dhaka Stock Exchange as an A-category share and carries a long-term AA+ credit rating from Bangladesh Bank. Its core product set spans deposit products (Fixed Deposits and Deposit Pension Schemes) and lending products (Personal Loans, Business Loans, and Loan Against Deposit), with the majority of revenue derived from interest income on loans, supplemented by loan processing fees and recurring deposit servicing economics.

The company's technology platform centers on the UMA mobile application, developed in-house and launched in 2025 as the first NBFI in Bangladesh to enable fully online deposit account opening. The app supports real-time product viewing, instant statement and certificate downloads, and direct service request submission, and is layered on top of the existing 23-branch direct sales distribution. Digital adoption, financial literacy programs, and government-backed Bangladesh Bank refinance facilities (CMSME stimulus, SPCSSECP) form the principal go-to-market mechanics, while a 2025 MoU with Assure Group opens a channel-partner route into home loan financing.

The customer base is horizontally segmented across CMSME borrowers, retail individuals, underserved communities, homebuyers, and farmers/marginalized groups, with no single customer concentration disclosed. The company is led by Chairman Najmul Hasan and Managing Director Mohammad Rafiqul Islam, with Mohammed Abul Ahsan as Deputy Managing Director and 13 directors in total including independent directors. In FY 2024 the company achieved one of the lowest non-performing loan ratios in the industry and returned a 10% cash dividend to shareholders at the 36th AGM in June 2025.

Name

United Finance

Legal name

United Finance PLC.

Website

https://ufplc.com

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

501–1,000 employees

Short description

United Finance PLC is a Dhaka-headquartered, Dhaka Stock Exchange-listed NBFI operating 23 branches across all 64 districts of Bangladesh, offering personal and business loans, fixed deposits, DPS, and the UMA in-house mobile banking app.

Ownership category

akta.pro rank

Product category

Non-Bank Financial Services

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), National Commercial Banks (6021)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF)

Keywords

• Non-bank financial services
• Personal lending products
• Fixed deposit services
• Mobile banking platform
• CMSME business loans

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices25 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Loans: Primary revenue stream from personal loans and business loans extended to customers
2. Deposit Services: Accepting customer deposits including fixed deposits, deposit pension schemes (DPS)
3. Loan Processing Fees: Fees charged for loan processing and other financial services

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

United Finance PLC is a Non-Bank Financial Institution (NBFI) in Bangladesh offering deposit products (Deposit Pension Schemes and Fixed Deposits), lending products (Personal Loans, Business Loans, and Loan Against Deposit), and a proprietary mobile banking platform (UMA) that enables customers to open deposit accounts online, view product details, download statements, and submit service requests from their mobile device. The company serves retail customers, CMSME businesses, underserved communities, and homebuyers through 23 branches nationwide covering all 64 districts of Bangladesh.

Product overview

United Finance PLC operates as a Non-Bank Financial Institution (NBFI) in Bangladesh, offering a comprehensive suite of financial products and services. The product portfolio includes deposit products (Deposit Pension Schemes and Fixed Deposits), lending products (Personal Loans, Business Loans, and Loan Against Deposit), and the proprietary digital banking platform 'UMA'. The company serves customers across all 64 districts of Bangladesh through 23 branches, making it the NBFI with the widest national coverage. United Finance recently launched the UMA mobile application, marking its entry into fully digital banking services, including the ability to open deposit accounts online - a first among NBFIs in Bangladesh.

Differentiator

Problem solved

Functional benefit

Brands

• UMA: Mobile application launched by United Finance PLC offering seamless, secure digital services including online deposit account opening, real-time product viewing, instant statement downloads, and service request submission. It is the first app among NBFIs in Bangladesh to allow online deposit account opening.

Products and services

• UMA Mobile Application Proprietary mobile banking platform developed in-house by United Finance, allowing customers to open deposit accounts entirely online, view deposit and loan product details in real time, download account statements and certificates instantly, and submit service requests directly from their mobile device.
• Deposit Pension Schemes (DPS) Long-term savings scheme with regular deposit requirements and pension benefits, targeted at individual retail savers seeking disciplined retirement-oriented savings.
• Fixed Deposits Time deposits with guaranteed returns for specified periods, available to individual and corporate depositors across United Finance's branch network and now via the UMA mobile app.
• Personal Loans Individual unsecured loan products for personal financial needs, offered to retail customers across United Finance's nationwide branch network.
• Business Loans Commercial lending solutions for business financing needs, including working capital financing for CMSMEs, with participation in Bangladesh Bank refinance facilities (CMSME refinance, SPCSSECP).
• Loan Against Deposit Loan facility secured against existing deposits held at United Finance, allowing depositors to access credit while retaining their deposit holdings.

Quantifiable outcome

• One of the lowest non-performing loan ratios in the industry in 2024
• +1 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered minor.

• Central Shariah Board for Islamic Banks of Bangladesh (CSBIB)minorStrategic or Co-development Partner · 15 March 2025Jointly organized the inaugural ceremony of the Institute of Islamic Banking, Finance, and Economics (IIBFE) with UIU Campus.
• Assure GroupminorStrategic or Co-development Partner · 1 January 2025MoU signed to expand home loan financing, making homeownership more accessible through streamlined financial solutions.
• Amal FoundationminorStrategic or Co-development PartnerCSR partnership for solar home projects, clean water initiatives, and training programs for marginalized women.
• Jago FoundationminorStrategic or Co-development PartnerEducational support partnership for underprivileged students.
• ISPahani Islamia Eye Institute & HospitalminorStrategic or Co-development PartnerHealthcare CSR support for eye treatment services for underprivileged communities.
• Acid Survivors FoundationminorStrategic or Co-development PartnerCSR partnership for rehabilitation support of acid survivors.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• bKash Limited: Bangladesh's largest mobile financial services platform. Comparable as a digital-first Bangladesh financial services provider pursuing underbanked customers — overlaps with UFPLC's retail and CMSME inclusion focus, but in payments rather than deposits/lending.

Direct peers

• National Housing Finance and Investment Limited (NHFIL): Bangladeshi NBFI focused on housing finance and deposits. Operates in the same regulated NBFI segment with overlapping deposit and personal lending products targeting retail customers.
• Industrial and Infrastructure Development Finance Company (IIDFC): State-promoted Bangladeshi NBFI offering term loans, deposits, and project finance. Comparable as a deposit-taking, multi-product NBFI regulated by Bangladesh Bank serving corporate and retail segments.
• Delta Brac Housing Finance Corporation (DBH): Bangladeshi NBFI specializing in home loans and deposit products. Comparable as a deposit-taking financial institution in Bangladesh with overlapping personal/home loan offerings and similar regulatory oversight.
• IDLC Finance Limited: Largest NBFI in Bangladesh offering deposits, SME lending, and home loans with nationwide branches. Directly comparable as a deposit-taking, multi-product NBFI competing for the same CMSME and retail customer base as United Finance.
• LankaBangla Finance PLC: Leading Bangladeshi NBFI providing personal loans, SME financing, deposits, and home loans. Closely comparable product mix (deposits + personal/business loans) and shared focus on consumer and SME segments.

Regional players

• BRAC EPL Stock Brokerage Limited: Bangladesh-focused financial services firm affiliated with BRAC, offering brokerage and investment services. Comparable as a Bangladesh-licensed financial services operator targeting retail investors, though focused on capital markets rather than NBFI lending.

Broad incumbents

• Dutch-Bangla Bank PLC: One of Bangladesh's largest commercial banks with strong CMSME and agent banking focus. Comparable as a Bangladesh-based financial institution with nationwide CMSME reach, but operates as a full-service bank rather than an NBFI.
• BRAC Bank PLC: Bangladesh-focused commercial bank with strong SME, retail, and digital banking offerings (including the Astha app). Comparable as a Bangladesh retail/SME lender pursuing digital-first customer experience, but with full banking license.
• Eastern Bank PLC (EBL): Bangladesh commercial bank with strong digital and SME focus. Comparable as a Bangladesh retail/SME lender pursuing digital channels, though operates with full banking license and broader product set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCDblYuP_kg3TruwprjzGStA
• Facebookfacebook.com/ufplc
• LinkedInlinkedin.com/company/united-finance-plc-ufplc

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about United Finance