Green Delta Capital Limited

"Since 2010, GDC has experienced thriving success, attributed to our committed team, distinctive culture, and innovative approach. Our resolve is centered on achieving sustainable global expansion, capitalizing on over a decade of industry expertise, positioning us as a leading Investment Bank in Bangladesh."

Dear Shareholders and Esteemed Visitors,

Welcome to Green Delta Capital Limited (GDC), a beacon of success since 2010. As CEO, I’m thrilled to share the driving philosophy behind our achievements. GDC’s growth stems from an unwavering commitment to excellence and a culture valuing innovation and collaboration. Our dedicated team’s expertise has propelled us to the forefront, making GDC the No. 1 Investment Bank.

Over the past decade, we have enhanced our skills, navigating the financial landscape with finesse. Our success is not just about numbers, it’s about the trust and relationships built with our clients. As we embark on sustainable global expansion, GDC is more than a financial institution; we are your partners in success, delivering tailored solutions with industry expertise.

Our innovative approach sets us apart, ensuring value, reliability, and excellence in an ever-evolving financial landscape. Whether you are a longstanding client or a first-time visitor, explore the opportunities at GDC. We look forward to being your trusted partner on the journey to financial success.

Thank you for choosing Green Delta Capital Limited

Md. Rafiqul Islam
"Amidst global challenges, GDC thrived in 2022. Our success is driven by our dedicated team, unique culture, and innovative approach. As we moved into 2023, our next phase involves sustainable global expansion, leveraging over a decade of industry experience."
Md. Rafiqul Islam
Managing Director & CEO

In line with the economic growth of Bangladesh, Green Delta Capital Limited has grown tremendously since its inception in 2011. Over the last 12 years, we have become one of the fastest growing Investment Bank in Bangladesh with the recognition of No.1 Merchant Bank in Bangladesh by Bangladesh Security Exchange Commission (BSEC).

Impact Investment Banking

Since inception, Green Delta Capital Limited (GDCL) has been working relentlessly to improve the Socio-Economic prospects of the people and the society. We helped and assist our clients to generate more than 4,200 employments through our Corporate Finance activities for raising funds for the expansion of the clients’ project in various thrust sectors. Our Due Diligence process ensure the positive environmental impact as well as sustainability of the business.

Strategic progress

In the year 2023, we continued our tradition of making excellent progress in registering a sustainable progress for our shareholders, our customers, our communities and ourselves to complement our tagline “Intelligence at work”. We have established GDCL as a one stop customized investment banking solutions provider for you.
We are pleased to inform you that our footprint is now not only in Bangladesh but also in Malaysia, Nepal, Sri Lanka. We have extended our corporate advisory services to regional markets, which makes us a unique Investment Bank based out of Bangladesh.

Financing Statement

The year 2023 has proven to be a momentous one for Green Delta Capital Limited, marked by significant milestones in the company’s history. We’ve not only set new industry standards in terms of revenue growth, operating profit, pre-tax profit, and after-tax profit but have also solidified our position as a key player in fostering a sustainable Investment Banking ecosystem. Our unwavering commitment to meeting our clients’ needs is in harmony with our dedication to ensuring consistent and sustainable company profitability.
In 2022, we successfully met our financial targets, a consistent trend in previous years. The company realized a net profit of BDT 2.69 million, with all key financial indicators performing satisfactorily. Our operating revenue reached BDT 55.97 million, while maintaining a robust Balance Sheet, with total assets standing at BDT 283.32 million.

Innovative proficiency in local and foreign deal

GDCL has strong footprint in Bangladesh market to execute large debt & equity deals in various sectors including Infrastructure, RMG, Pharmaceuticals, FMCG, Power & Energy, Manufacturing, etc. By 2023, we have raised more than USD 1,830 million as debt and equity from global markets as well as local market. We have proven track record of arranging, structuring and executing large scale Foreign Loan Syndication with an experienced Investment Banking Team at our disposal.

New Steps and Initiatives

One of our prime objectives is “Branding Bangladesh” in the Global market. We showcase Bangladesh as a “Rising Star” in the global stage. GDCL has always maintained a strong relationship with various foreign investors, our distribution channel includes Europe, Middle east, Asia, USA, Canada, Australia etc. In the year 2023, we have secured the first-ever sustainability bond in Bangladesh certified by Moody’s Investors Service Singapore Pte. for Runner Automobiles PLC. We acted as Lead Arranger and Transaction to the Adviser to raise BDT 2,675 million for the issuance of Runner Auto Sustainability Bond with a tenor period of 7 years by Runner Automobiles PLC. This deal between GDCL and Runner Automobiles PLC is again a milestone for GDCL as well as for the country where our strong collaboration will contribute to the sustainability of the country.
During the year, we explored avenues to extract new business opportunities in the SAARC countries. We have successfully planted our foot in Nepal and Sri Lankan market in various sectors such as Hydro Power, Wind Power, Tourism & Hospitality Sector etc. We believe that in the coming year, we will be able to achieve successful milestones from these opportunities in SAARC regional market.

Cutting Edge Expertise of Portfolio Management Team

GDCL’s retail wing, portfolio management team, has also performed exceedingly well throughout the year 2023. With a challenging year for Capital Market, the retail team is expected to sustain its performance even better but with an improved direction to achieve a sustainable growth.
The team is committed & equipped to set forth a strong client base by providing global standard investment analysis solution for its valued clients. In the year 2023, the company signed a significant number of new clients with enormous market presence. They have contributed heavily to the bottom-line profit of the company through own investments in the capital market.
The Portfolio team is supported by a very capable research team that ensures portfolio investments of our clients see maximum return with minimum levels of risks. Research team is responsible to report on Bangladesh capital market every day, which is also published in the Financial Express, the leading financial newspaper of Bangladesh and are in the talks with a few more newspaper dailies to publish their research on Bangladesh Capital Markets. We are proud that our unique research team contributes to the net revenue through such publications as well as earns goodwill for the company.

Looking ahead

We believe that in order to sustain the long-term growth of the business, we need to continuously develop and enhance capabilities of our colleagues. Currently, the company has a comprehensive team to work in a competitive industry to achieve the company goals of ensuring corporate culture, stronger risk management tools and techniques, business policy, brand reputation and continuous development of diversified range of customized investment banking products & services to accomplish rapid growth.
Bangladesh is one of the fastest growing economies in the world, where Government of Bangladesh is promoting the development of infrastructure to attain the Sustainable Development Goal (SDG) by 2030. Bangladesh economy has surpassed the 7% growth mark for consecutive years, and is expected to grow rapidly in line with investment friendly environment in the coming years. In addition, the Capital Market has recovered and has a bullish environment which is forecasted to continue like this for the next couple of years at least. GDCL is therefore, perfectly positioned to take advantage of the growing economy and capital markets to look forward to yet another glorious year in 2024. We are confident that by the grace of Almighty Allah’s, GDCL will not only continue its sustainable growth but will emerge stronger than ever.

Md. Rafiqul Islam

Managing Director & CEO

Md. Rafiqul Islam is presently serving as the Managing Director & CEO at Green Delta Capital Limited. Due to his exceptional performance as Chief Investment Officer of GDC, Mr. Islam was promoted to lead the company to newer heights. Mr. Islam is a highly experienced professional in the realm of Investment Banking, specializing in Corporate Finance, M&A, Private Equity, Corporate Banking, Wealth & Portfolio Management.

His extensive professional background incorporates proficiency in both Debt and Equity Capital Market products. He has played a pivotal role in numerous significant transactions involving the raising of debt and equity funds, including Foreign and local Syndication and IPOs across diverse sectors such as Infrastructure, Power, Energy, Financial, Agro, Textile, Telecom, Manufacturing, FMCG, and Food processing.

Mr. Islam has substantial experience in Islamic Finance, particularly in Sukuk, covering the entire process from structuring to raising funds through Sukuk issuance for corporates. He is also adept at structuring Private Public Partnership (PPP) projects and infra deals, transforming them into bankable deals.

With a professional career spanning over 21 years, Mr. Islam has built a successful track record of consistently creating sustainable value in the fields of Investment Banking and Corporate Finance. His accomplishments include raising funds from both domestic and foreign markets for both debt and equity.

Commencing his career in 2002 with a major conglomerate in Bangladesh, Mr. Islam subsequently worked at Orascom Telecom Bangladesh (Vimpelcom) before joining BRAC EPL Investments Limited as Associate Director & Head of Structured Finance.

Mr. Islam is also acknowledged for his contributions as a keynote speaker and panelist in various international and national conferences, summits, and TV media discussions on Capital Markets, Investment Banking, Private Equity, and Venture Capital. The government of Bangladesh has recognized his efforts in promoting the country among foreign investors. Additionally, he served as the Vice President of Bangladesh Merchant Bankers Association (BMBA) for 2018 and 2019.

Mr. Islam holds a Master’s degree in Commerce with a focus on Accounting, and he has also completed his MBA in Finance from East West University, Bangladesh.

Nadeem A. Chowdhury


Mr. Nadeem Ahmed Chaudhury, is a dynamic professional having many years of experience in heading big organizations like Eastern Housing Ltd.
Currently he is working as Chief Executive Officer of Bengal Development Corporation Ltd. He is also the Sponsor Director of Enrilco Ltd. He has experience in the Infrastructure Development business of more than 18 years.

Abdul Hafiz Chowdhury


Mr. Abdul Hafiz Choudhury, has over 40 years of experience in the corporate world. He is one of the founders and the past Chairman of Independent University, Bangladesh and a senior partner (retired from active service) of KPMG Rahman Rahman Huq, Chartered Accountants.
He is a Director in the board of ICB Islamic Bank Ltd, Green Delta Insurance Co. Ltd. and New Zealand Dairy Products Bangladesh Ltd. He is also the Vice President of United Nations Association of Bangladesh.

Naima Chowdhury


Ms. Naima Chowdhury, is a qualified professional having experience of managing renowned business portfolio of East Coast Group related to real estate.
She is also the director of East Coast Group, Bangladesh.

Mr. Nasir A. Choudhury, Chairman, is a visionary and highly experienced professional. He has over 50 years of experience in the insurance industry and considered to be a living legend in his field.
He started his career with Pakistan Insurance Corporation head office at Karachi, Pakistan in 1958. He is the Advisor and also Founder Managing Director of Green Delta Insurance Co. Ltd. the leading General Insurance Co. in Bangladesh since its inception i.e. 1.1.1986.
He is also playing the role of Director, Chairman, Sponsor Director and Vice Chairman in different renowned organizations like Delta BRAC Housing Finance Corporation Ltd., Progressive Life Insurance Co. Ltd., Union Capital Ltd. etc.
He received many prestigious awards not only for his contribution in the insurance industry but also in overall economy.

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