United Leasing Company (ULC) was established in April, 1989 as a Public Limited Company in Bangladesh to cater to the Leasing and Investment needs of the economy. It started its operation in September 1989 and went for Public Offering of its share in March, 1994. It had listed its share in Dhaka Stock Exchange during June, 1994. Starting with one office, today the company has a large network of nine branches to cater to the people from all over the country.
Continuous growth has become a challenge for any growing company. For ULC with increase in branch network, growth was imperative and understanding this need, company has focused more on training the employees properly. Employees were trained nationally and internationally to improve their efficiency and to provide better customer service. QSM (Quantitative Scoring Model) is in place in the company to evaluate the human resources function. As a result of this scientific approach, professionalism has developed among employees. Now, the managers can utilize resources more efficiently.
ULC’s financing portfolio is divided into four parts:
- Asset Finance
- Channel Finance
- Syndicated Finance
- Term Finance
ULC finances for Home Loans up to Tk. 50 Lacs or 70% of cost of house whichever is lower for individuals. Repayment period ranges from 15 to 20 years and can be paid in easy EMI facility. Rate of interest offered is competitive and best in the industry. ULC does Lease Finance for SME’s, Corporate’s, and Commercial Houses for purchase of Machinery, Furniture, Trucks, Equipment. Usually it provides loan for 80% – 90% cost and for 3-5 years duration basis at the best rate of interest. ULC has the facility for monthly, quarterly, or semiannual rental and also gives options for prepaying the loss to lower the interest cost.
In Channel Financing Scheme, it finances the Working Capital needs for the businessman in the form of factoring (Financing Against Amount Receivables), Work Order Finance (Finance against large order so as to complete the delivery of goods), Distributor Finance (Trade Credit Facility for Day-Day Requirement), and Assignment Discounting (Fixed term financing against some irrevocable assignments). Here it also provides Term Finance minimum of Tk. one lac for small need and also provides syndicate loan in association with other lenders. All these finances are done at competitive rate of interest and with proper assessment of risk by taking care of company’s interest first.
Company has deposit schemes designed innovatively to take care of their capital requirements and also fulfilling their customer’s investment needs. It has Term Deposit Schemes like Insured Deposit Scheme (Monthly saving Schemes with insurance Facility for the installment) and Insured Education Support Scheme (Monthly saving scheme with insurance facility for installment to fulfill Educational needs of an individual in Future). Salient feature in both these schemes is security of installment on sudden demise of person paying installment, where insurance company takes care of the installment and person gets its full amount on maturity.
ULC’s Earner Scheme is very popular wherein investor gets monthly installments based on its investment value. Interest rate in this scheme varies from 12.5% to 14.25% based on tenure of investment and one has to invest minimum Tk. 50,000 and for senior citizens there is additional 0.25% rate of interest. Its money double scheme doubles the investment in 7 years. Company’s Investment Portfolio also has 3 different Sanchay Schemes i.e. Sanchay Scheme (Monthly), Millionaire Scheme and Easy Millionaire Scheme where monthly investment result into large amount on maturity and the person can fulfill his dream to be a Millionaire!! All the ULC investment has a tag of safe investment with high return and no incidental costs.
In this era of turbulent economy, company has been able to register the 7.3% growth over last year. The company’s EPS and NAV have also grown by 7.94 % and 10.7% respectively over last year. Its deposit and lending has also been able to grow by 22% over previous year. Company’s continuous efforts in Training, offering better client service and ability to deliver has generated great confidence in management and employees to look future with more ambitions.
United Leasing Company was enlisted in Dhaka Stock Exchange on 1994. It’s been rated as “A” category share under the financial sector as on 25-11-2012.
Contact information of ULC:
Head Office: Camellia House
22 Kazi Najrul Islam Avenue, Dhaka-1000