Market capitalization is one of the simplest measures to determine the value of a company. It is one measure of a company’s worth as determined by the stock market. It is calculated by multiplying the company’s outstanding shares by its current share price.
There are criticisms and critical views about the Bangladesh stock market. The stock market remains highly underdeveloped. Industry insiders suggest the market doesn’t have enough truly high-value companies and the regulatory and policy structure inhibits the development of the market. Many stories about the stock market in Dhaka are rather negative stories of market manipulation and other market failures.
Despite these limitations, going public remains a coveted ambition for most companies and the market still features some of the most stellar companies in Bangladesh. Without understanding these companies, it is impossible to understand the Bangladesh business landscape.
In the table below, we present a chart that lists Bangladesh’s top 50 publicly-traded companies by market cap, using data as of September 7, 2024.
We believe these companies offer a glimpse into the broader business scene of Bangladesh. For instance, a significant percentage of companies in the list come from the energy, finance, telecom, and consumer goods sectors. And there are no internet technology companies, consumer or B2B in the list. These data points tell a certain story about the market.
In its current form, the list doesn’t provide a lot of information. We prepared the list as an internal exercise as we embark on a new journey of understanding Bangladesh’s broader business landscape. We plan to update the list with more information about each company as well as further analyses of trends and insights about the markets.
For now, enjoy the list of Bangladesh’s 50 most valuable publicly traded companies.
Note: While market capitalization is a simple method to understand the value of publicly traded companies, it does have some limitations. It does not include debt or cash in the calculation. Moreover, in the case of Bangladesh, it sometimes doesn’t indicate the true value and quality of a company.
Grameenphone provides telecommunications services. It offers prepaid and postpaid plans, online recharge, internet packages, mobile office phones, tracking system, messaging application and office connectivity solutions. It is the leader in Bangladesh's telecommunication services market and it has played an important role in taking telecommunication technology to the masses. The company was founded by Iqbal Quadir and is headquartered in Dhaka, Bangladesh.
Market Cap: 456.266 Billion BDT
Vertical: Telecommunications
Founded: 1996
Current CEO: Yasir Azman
British American Tobacco Bangladesh manufactures and sells tobacco products. Its brand portfolio consists of Benson & Hedges, John Player Gold Leaf, Pall Mall, Capstan, Star, Pilot, Derby, and Hollywood. While tobacco has become an increasingly controversial industry due to growing health concerns, BATB is considered one of the best-run corporations in Bangladesh.
Market Cap: 205.848 Billion BDT
Vertical: Tobacco
Founded: 1910
Current CEO: Monisha Abraham
Square Pharmaceuticals manufactures, markets, and distributes pharmaceuticals, basic chemical, and animal health products. Its products include therapeutic, herbal, and nutraceuticals, as well as veterinary drugs and pesticides. It is the largest pharmaceuticals company in Bangladesh. The company was founded by Samson H. Chowdhury in 1958.
Market Cap: 202.997 Billion BDT
Vertical: Health Technology
Founded: 1958
Current CEO: Tapan M. A. Chowdhury
Walton Hi-Tech Industries manufactures, markets, and sells electrical and home appliances products, including refrigerators and freezers, air conditioners, televisions, home appliances, elevator, and electrical appliances. The company was founded in 2006 and has become a dominant player in the electronics products vertical within a relatively short time. Walton has also played a role in offering quality electronics appliances at an affordable price thus make these products affordable for a vast middle class market across Bangladesh.
Market Cap: 168.792 Billion BDT
Vertical: Consumer Durables and Electronics Appliances
Founded: 2006
Current CEO: S. M. Mahbubul Alam
Robi Axiata Plc provides mobile telecommunication services and Information technology-related services and is the second-largest mobile phone company in Bangladesh. It offers voice and high-speed internet services to tailor-made telecommunications solutions. The firm also provides prepaid, postpaid, international roaming, business solutions, video calls and Internet, Wi-Fi support, and value-added services.
Market Cap: 137.758 Billion BDT
Vertical: Telecommunications
Founded: 1995
Current CEO: Rajeev Sethi
Islami Bank Bangladesh PLC provides commercial banking services to both consumer and B2B customers, including deposit, investment, and rural development scheme products; and NRB, SME, foreign exchange business, locker, and offshore banking services. The bank has played an important role in creating a whole Islamic banking revolution in Bangladesh.
Market Cap: 99.014 Billion BDT
Vertical: Finance
Founded: 1983
Current CEO: Mohammed Monirul Moula
BRAC Bank Plc provides banking solutions. The company focuses on accepting customer deposits, lending to retail, Small and Medium enterprises, and corporate customers, trade financing, lease financing, and project financing, issuing letters of credit (LCs), interbank borrowing and lending, dealing in government securities, and equity shares. It operates through the following segments: Small and Medium enterprises (SME), Retail, Corporate, Treasury, bKash, and Others.
Market Cap: 96.626 Billion BDT
Vertical: Finance
Founded: 1999
CEO: Selim R. F. Hussain
Berger Paints Bangladesh manufactures, markets, and distributes liquid and non-liquid paints and varnishes, emulsions, and coating. Its products are used in interior, exterior, enamel paints, industrial paints, wood coating adhesive, textile auxiliaries, powder coating, special products, and undercoats. The company is the largest paint company in Bangladesh.
Market Cap: 81.945 Billion BDT
Vertical: Process industries
Founded: 1970
CEO Rupali H. Chowdhury
Renata manufactures, markets, and distributes pharmaceuticals, animal health products, oncology-based products, agro-based products, poultry products, and consumer products. The company is one of the largest pharmaceutical companies in Bangladesh.
Market Cap: 80.895 B BDT
Vertical: Health technology
Founded: 1972
CEO: Syed S. Kaiser Kabir
United Power Generation & Distribution Co. Ltd. produces, distributes, and sells electricity. Its principal activity is to generate electricity by two gas-fired power plants, one at DEPZ with 88 MW capacity and the other at CEPZ with 72 MW capacity, and to sell generated electricity to the export processing industries located inside DEPZ and CEPZ with the provision of selling surplus power outside the Export Processing Zones after fulfilling their requirement.
Market Cap: 75.998 Billion BDT
Vertical: Utilities
Founded: 2007
CEO: Mohammad Moinul Islam Khan
Marico Bangladesh Ltd. manufactures, markets, and distributes consumer products. Its notable brands include Parachute, Nihar, Saffola, Hair Code, Livon, Parachute Advanced, Beli Phool, Ayurvedic Gold, Extra Care, Parachute Body Lotion, Set-Wet, and Bio-Oil in Bangladesh.
Market Cap: 71.864 Billion BDT
Vertical: Consumer non-durables
Founded: 1999
CEO: Saugata Gupta
LafargeHolcim Bangladesh manufactures and markets clinker and cement. It also involves extracting and processing the basic raw materials, which include limestone and shale. The firm operates through four business segments: Cement, Aggregates, Ready-Mix Concrete, and Solutions and Products, which include precast concrete, asphalt, mortar, and building solutions.
Market Cap: 69.334 Billion BDT
Vertical: Construction Materials
Founded: 1997
CEO: Mohammad Iqbal Chowdhury
Investment Corp. of Bangladesh provides investment banking services. It offers equity and private equity services, placement of shares; advance against ICB Unit Fund and Bangladesh Fund Certificates; management of margin loan accounts, sponsor of mutual funds; stock market operation; and portfolio management.
Market Cap: 53.25 Billion BDT
Vertical: Finance
Founded: 1976
CEO: CEO: Mohammed Abul Hossain
Unilever Consumer Care Ltd. manufactures, markets, and distributes consumer healthcare products including health food, drink, and glucose powder.
Market Cap: 50.944 Billion BDT
Vertical: Health technology
Founded: 1974
CEO: Khan Salahuddin Mohammad Minhaj
Dutch-Bangla Bank Plc provides commercial banking products and services. It operates through the following segments: Corporate Banking, Retail Banking, Financial Inclusion, Small and Medium Enterprises (SME) Banking, Treasury, and Off-Shore Banking Unit. The company was founded by Mohammed Sahabuddin Ahmed in 1995.
Market Cap: 46.138 Billion BDT
Vertical: Finance
Founded: 1995
CEO: Abul Kashem Mohammed Shirin
Power Grid Co. of Bangladesh Ltd. is in the business of planning, promotion, operation, and maintenance of power transmission system networks. The firm specializes in transmission lines, sub-stations, load dispatch centers, communication facilities, as well as grid systems. It also offers consultancy services in the field of power systems and execution turnkey jobs.
Market Cap: 36.004 Billion BDT
Vertical: Utilities
Founded: 1996
CEO: A. K. M. Gause Mohiuddin Ahmed
Eastern Bank Plc provides commercial and retail banking services. The company's financial products and services, personal and commercial banking, trade services, cash management, treasury, securities, and custodial services. It operates its business through the following segments: Onshore Banking, Offshore Banking, EBL Securities Ltd, EBL Investments Ltd, EBL Finance (HK) Ltd, and EBL Asset Management Ltd.
Market Cap: 34.089 Billion BDT
Vertical: Finance
Founded: 1992
CEO: Ali Reza Mohammed Iftekhar
Olympic Industries Ltd. manufactures, distributes, and sells consumer goods, including biscuits, cookies and bakery, confectionery, snacks, and batteries. The firm's brands under biscuits include Energy Plus, Hilux, and Nutty; Daily Cookies, Dry Cake, and Badami Cookies under cookies and bakery; confectionery include Pulse Masala Mango, Pineapple, and Eclairs; Foodie Noodles Chicken, Namakpara Butter Garlic, and Tritos-Tomato Madness under snacks; and batteries include Volt-UM3, Olympic Gold, and Olympic Laser.
Market Cap: 34.01 Billion BDT
Vertical: Consumer non-durables
Founded: 1979
CEO: Nurjehan Hudda
Pubali Bank Plc provides commercial banking services. Its products include retail, corporate, and personal loans. It offers savings, current, and special notice deposits; ancillary services such as demand draft, telegraphic transfer, payment order, teller transaction, and locker service; recurring deposits; and term deposits.
Market Cap: 29.384 Billion BDT
Vertical: Finance
Founded: 1959
CEO: Mohammad Ali
City Bank Plc operates as a holding company, which engages in the provision of financial services. It offers loans, commercial banking, retail, treasury, supply chain finance, and Islamic banking to its customers. .
Market Cap: 29.366 Billion BDT
Vertical: Finance
Founded: 1983
CEO: S. M. Mashrur Arefin
MJL Bangladesh Plc processes, manufactures, and trades lubricants and grease products, including automotive lubricants, and industrial and specialty lubricants. It operates through the following segments: Oil Tanker, Manufacturing, and Trading.
Market Cap: 27.843 Billion BDT
Vertical: Process industries
Founded: 1983
CEO: M. Mukul Hossain
Beacon Pharmaceuticals Plc is a pharmaceutical company. The company manufactures, markets and sells pharmaceuticals and lifesaving medicines. It operates through the following segments: General, Oncology, Biotech, and Chronic Care. Its products include Oncology, Bio-tech and Anti-viral.
Market Cap: 27.628 Billion BDT
Vertical: Health technology
Founded: 2001
CEO: Mohammed Ebadul Karim
Prime Bank Plc is a holding company that provides financial and banking services. The company provides all kinds of commercial, corporate, personal, retail, and consumer banking services and operates through the following segments: Corporate and Institutional Banking, Commercial Banking Division, MSME, and Consumer and Others. Its products and services include corporate banking, retail banking, and consumer banking right from industry to agriculture, and real estate to software.
Market Cap: 27.062 Billion BDT
Vertical: Finance
Founded: 1995
CEO: Hassan O. Rashid
Al-Arafah Islami Bank Plc provides financial and banking solutions. The company specializes in commercial, consumer banking, trade finance, and other related custody and clearing services. Its products range from Al Wadia Current Account, Mudaraba Savings Deposit, Other Mudaraba Deposit, Mudaraba Term Deposit, and Bills Payable.
Market Cap: 26.604 Billion BDT
Vertical: Finance
Founded: 1995
CEO: Farman R. Chowdhury
Bangladesh Submarine Cables Plc provides voice and data bandwidth services, including international private leased circuits, internet service providers, and colocation services.
Market Cap: 25.662 Billion BDT
Vertical: Communications
Founded: 2008
CEO: Mohammad Azam Ali
Titas Gas Transmission & Distribution Co. Ltd. constructs, owns, and operates natural gas transmission and distribution facilities in the mid-eastern region of Bangladesh. It focuses on system loss reduction programs, pipeline expansion and modification, civil works, and energy efficiency and conservation.
Market Cap: 23.445 Billion BDT
Vertical: Utilities
Founded: 1964
CEO: Shahnewaz Parvez
Bangladesh Steel Re-Rolling Mills Ltd. produces, markets, and sells steel. The firm's products include Xtreme, Maxima, Ultima, Xtrong, and Centura. It rolls and markets sectional steels such as angles and channels and ribbed wire which are manufactured in separate plants.
Market Cap: 22.842 Billion BDT
Vertical: Non-energy minerals
Founded: 1952
CEO: Aameir Alihussain
Reckitt Benckiser (Bangladesh) Plc manufactures, markets, and sells consumer health and hygiene products. It operates through the household toiletries and pharmaceuticals segments. The Household and Toiletries segment offers hygiene and home care products. The Pharmaceuticals segment sells healthcare products.
Market Cap: 22.529 Billion BDT
Vertical: Consumer non-durables
Founded: 1961
CEO: Vishal Gupta
Meghna Petroleum Ltd. procures, stores, and markets petroleum products, including lubricants, bitumen, liquefied petroleum gas, and battery water.
Market Cap: 22.249 Billion BDT
Vertical: Distribution services
Founded: 1977
CEO: Mohammed Abu Saleh Iqbal
Bank Asia Plc provides banking and financial solutions. It operates through the following segments: Conventional Banking, Islamic Banking, Off-Shore Banking Unit, Bank Asia Securities Ltd., BA Exchange Company (UK) Ltd., and BA Express USA Inc.
Market Cap: 22.152 Billion BDT
Vertical: Finance
Founded: 1999
CEO: Sohail Reza Khaled Hussain
Best Holdings Ltd. is in the business of hospitality services. The company develops, manages, and operates a resort chain.
Market Cap: 21.926 Billion BDT
Industrial services
Founded: 2006
CEO: Hasan Ahmad
Trust Bank Ltd. provides banking services, including deposit banking; loans and advances; and export, import, and financing national and international remittance facilities.
Market Cap: 21.916 Billion BDT
Vertical: Finance
Founded: 1999
CEO: Ahsan Zaman Chowdhury
Shahjalal Islami Bank Plc provides commercial banking services. It operates through the following segments: Corporate Banking, Small and Medium Enterprise (SME) Banking, Retail Banking, and Treasury.
Market Cap: 20.813 Billion BDT
Vertical: Finance
Founded: 2001
CEO: Mosleh Uddin Ahmed
BSRM Steels Ltd. manufactures, markets, and sells steel bars. The company operates through the Mild Steel (M.S) Rod and Mild Steel (M.S) Billets segments. The M.S Rod segment produces different graded rods and sells them to several dealers, end users, other corporate users, and government projects. The M.S Billets segment manufactures different graded Billets which are used in the production of M.S Rod.
Market Cap: 20.79 Billion BDT
Vertical: Non-energy minerals
Founded: 1952
CEO: Aameir Alihussain
National Bank Ltd. provides financial and banking services. It offers personal and commercial banking, trade services, cash management, treasury, security, and custody services. It operates through the following segments: Corporate, Retail, and Small and Medium-Sized Enterprises, Treasury Operations, and Others.
Market Cap: 19.962 Billion BDT
Vertical: Finance
Founded: 1983
CEO: Touhidul Alam Khan
Jamuna Oil Co. Ltd. procures, stores, transports, and markets petroleum products, Lubricating oils and greases, Bitumen, and LPG.
Market Cap: 19.512 Billion BDT
Vertical: Energy minerals
Founded: 1964
CEO: Mustafa Qudrat E-Elahi
Padma Oil Co. Ltd. procures, stores, and markets fuel oil and agrochemicals. It operates through the following segments: Petroleum Products; Lubricating Oil and Grease; Bitumen; LPG; and Agro-Chemicals Products. The Petroleum Products segment includes marketing petroleum products. The Lubricating Oil and Grease segment focuses on treading lubricating oil and grease. The Bitumen segment is involved in marketing bitumen. The LPG segment focuses on trading LPG. The Agro-Chemicals Products segment offers imported agro-chemicals products.
Market Cap: 19.489 Billion BDT
Vertical: Distribution services
Founded: 1965
CEO: Mohammed Masudur Rahman
Midland Bank PLC is a private commercial Bank in Bangladesh. The ban provides all types of commercial banking activities including money market operations, investment in company activities, financial intermediary services, and any related financial services.
Market Cap: 18.231 Billion BDT
Vertical: Finance
Founded: 2023
CEO: Mohammad Ahsan-uz Zaman
Uttara Bank Plc is a commercial bank in Bangladesh and provides commercial banking services.
Market Cap: 18.002 Billion BDT
Vertical: Finance
Founded: 1965
CEO: Mohammed Rabiul Hossain
IFIC Bank Plc provides commercial banking services, including corporate, retail, SME, Internet, and mobile banking services. It operates through the Conventional Banking and Off-Shore Banking Unit segments.
Market Cap: 17.491 Billion BDT
Vertical: Finance
Founded: 1976
Kohinoor Chemical Co. (Bangladesh) Ltd. manufactures and sells cosmetics and toiletries. Its products include soap, laundry detergent, toilet cleaners, cosmetics, toothpaste, hand wash & dishwashing liquid, and household cleaning agents.
Market Cap: 17.201 Billion BDT
Vertical: Consumer non-durables
Founded: 1956
CEO: Mohammad Razul Karim
ACME Laboratories Ltd. is a leading pharmaceutical company in Bangladesh. The company is in the business of research, development, and manufacturing of pharmaceutical products. It offers herbal health products for both humans and animals in various forms such as tablets, capsules, dry syrup, eye, ear, and nasal drops, creams, injectables, liquid, ointments, inhalers, suppositories, liquid in hard gelatin, and oral saline.
Market Cap: 17.119 Billion BDT
Vertical: Health technology
Founded: 1954
CEO: Mizanur Rahman Sinha
United Commercial Bank Plc provides commercial banking services. It operates through the following business segments: Corporate Banking, SME Banking, Consumer Banking, Treasury, Investment Banking, Offshore Banking, Card and Alternate Delivery Channels, Mobile Financial Services, and Agent Banking.
Market Cap: 16.589 Billion BDT
Vertical: Finance
Founded: 1983
CEO: Mohammad Mamdudur Rashid
Jamuna Bank Plc provides banking services. The firm operates through the Conventional and Islamic business segments. It offers personal, retail, corporate, Islamic, small and medium-sized enterprises, International, treasury, and other banking services to its customers.
Market Cap: 15.788 Billion BDT
Vertical: Finance
Founded: 2001
CEO: Mirza Elias Uddin Ahmed
Heidelberg Materials Bangladesh Plc produces and markets quality gray cement. The firm also offers Ordinary Portland, Portland Composite, and Blast Furnace cement products. Its brands include RubyCement and ScanCement.
Market Cap: 15.781 Billion BDT
Vertical: Non-energy minerals
Founded: 2003
CEO: Jose Marcelino Ugarte
Linde Bangladesh Ltd. produces and distributes industrial and medical gas, anesthesia, welding products and equipment and ancillary equipment. The firm also engages in the rental of cylinders for vacuum-insulated evaporators. It operates through the following segments: Bulk Gas, Packaged Gases and Products, and Healthcare. The Bulk segment comprises liquid industrial oxygen, liquid nitrogen, and carbon dioxide. The Packaged Gas and Products segment contains industrial compressed packaged gas and welding goods products. The Healthcare segment includes all services related to the supply of medical gasses, such as medical oxygen and nitrous oxide, cylinders, and accessories, supply and installation of medical gas pipeline systems, and maintenance of medical equipment.
Market Cap: 15.36 Billion BDT
Vertical: Process industries
Founded: 1973
CEO: Bibhabasu Sengupta
Unique Hotel & Resorts Plc is in the business of hotel and resort operations. It offers presidential suites, executive suites, junior suites, as well as standard and deluxe rooms. The firm offers amenities such as function and meeting rooms, spas, sauna, jacuzzi, swimming pool, bar, and restaurants. It provides a shopping arcade, parking, valet, and babysitting services for its customers.
Market Cap: 15.279 Billion BDT
Vertical: Consumer services
Founded: 2000
CEO: Shakawath Hossain
Social Islami Bank Plc provides banking services. The company operates through the following segments: SME, Retail, Corporate and Treasury under Islamic Banking. Its products include deposit, investment, and card products.
Market Cap: 14.605 Billion BDT
Vertical: Finance
Founded: 1995
CEO: Mohammad Forkanullah
IDLC Finance Plc provides financial and investment services under the following segments: Core Financing Business, Investment Banking Business, Brokerage Business, and Asset Management Business. The company offers home, construction, registrar, car and personal loan, brokerage services, investment banking services, small and medium enterprise financing, and internet trading.
Market Cap: 13.967 Billion BDT
Vertical: Finance
Founded: 1985
CEO: M. Jamal Uddin
