Top 10 Largest Companies in Bangladesh in 2024: A Detailed Overview.

Bangladesh's business landscape in 2024 reflects the country’s remarkable growth trajectory, fueled by a mix of traditional industries like textiles and agriculture, and a fast-emerging tech-driven economy. In the past decade, Bangladesh has transitioned from being primarily an agricultural economy to a more diversified industrial and service-driven market. The largest companies in Bangladesh today are spread across various sectors, including textiles, energy, telecommunications, banking, and pharmaceuticals. This article provides an in-depth look at the top 10 largest companies in Bangladesh in 2024, based on their market capitalization, economic influence, and growth potential.

1. Grameenphone Ltd.

- Industry: Telecommunications

- Market Cap (2024): Approximately BDT 500 billion

Grameenphone, the largest telecommunications company in Bangladesh, continues to dominate the market in 2024. A subsidiary of Norway’s Telenor Group, Grameenphone has a significant share of the mobile market, serving over 80 million customers. The company has made significant investments in expanding its 4G network and is now focusing on the roll-out of 5G services.

Grameenphone is known for its extensive rural coverage, innovative pricing models, and a broad range of digital services. These include mobile banking, entertainment, and educational platforms, making it a key player in the country’s digital economy. Grameenphone’s strong market presence and commitment to advancing digital inclusion are major factors driving its market capitalization.

2. BRAC

- Industry: Non-Profit, Microfinance, Education

- Market Cap (2024): Approximately BDT 480 billion

BRAC, the world’s largest non-governmental organization, is a multi-faceted entity that has transformed the lives of millions of people in Bangladesh through its development programs in education, health, and microfinance. While its core mission remains social welfare, BRAC has become one of the largest players in the country's economy, especially in microfinance. Its subsidiary, BRAC Bank, is a leading commercial bank in Bangladesh.

In 2024, BRAC continues to make significant strides in areas like agriculture, women’s empowerment, and rural development. Through its social enterprises, BRAC provides employment, financial services, and education to marginalized communities. The NGO’s involvement in multiple sectors—from banking to pharmaceuticals—has helped elevate its market standing and impact.

3. Square Pharmaceuticals Ltd.

- Industry: Pharmaceuticals

- Market Cap (2024): Approximately BDT 450 billion

Square Pharmaceuticals is one of Bangladesh’s largest pharmaceutical companies and a leader in the country’s growing pharmaceutical sector. The company manufactures and exports a wide range of pharmaceutical products, including generic medicines and active pharmaceutical ingredients (APIs).

Square’s success is driven by its high-quality products, strong research and development (R&D) capabilities, and its robust domestic distribution network. In 2024, Square Pharmaceuticals remains a key player in Bangladesh’s export-driven pharmaceutical industry, with its products being exported to more than 40 countries worldwide. The company’s market cap reflects its dominance in both the local and international pharmaceutical markets.

4. Bangladesh Petroleum Corporation (BPC)

- Industry: Energy, Oil & Gas

- Market Cap (2024): Approximately BDT 430 billion

Bangladesh Petroleum Corporation (BPC) is a state-owned entity responsible for importing, refining, and distributing petroleum products across Bangladesh. As the largest player in the energy sector, BPC’s operations are critical to the country’s energy security. In 2024, with rising energy demands and a growing population, BPC continues to play a central role in managing the nation’s petroleum needs.

The company has also ventured into renewable energy projects and is focusing on reducing the country’s dependence on imported fossil fuels. BPC’s strategic importance to the economy, coupled with its expansive infrastructure in oil refining and distribution, ensures its position as one of the top companies in Bangladesh.

5. Apex Footwear Limited

- Industry: Manufacturing, Retail

- Market Cap (2024): Approximately BDT 350 billion

Apex Footwear is the largest and most well-known footwear manufacturer and retailer in Bangladesh. With a reputation for producing high-quality shoes and leather goods, Apex has expanded its reach both domestically and internationally. The company’s products are exported to several countries, including the United States, Europe, and Japan.

In 2024, Apex continues to capitalize on the country’s growing apparel and leather export markets. The company’s extensive retail network and its strong brand image have helped it remain one of the top players in Bangladesh’s manufacturing sector. Apex’s continued investments in automation, sustainable practices, and digital retail make it a leader in Bangladesh's competitive footwear industry.

6. United Power Generation & Distribution Company Ltd.

- Industry: Energy, Utilities

- Market Cap (2024): Approximately BDT 320 billion

United Power is one of the leading private sector power generation and distribution companies in Bangladesh. The company owns and operates a significant number of power plants and has contributed substantially to meeting the country’s growing energy demand.

United Power’s growth is tied to the country’s infrastructure development, as energy remains a critical bottleneck to economic growth. With a mix of gas, oil, and renewable energy sources, United Power is making substantial investments in green energy, including solar and wind power, to diversify its energy mix. The company’s strong financial performance and future-oriented energy strategies have made it one of the largest companies in Bangladesh.

7. Nestlé Bangladesh Limited

- Industry: Food & Beverage

- Market Cap (2024): Approximately BDT 280 billion

Nestlé Bangladesh is a subsidiary of the global food and beverage giant Nestlé. The company produces a wide range of products, including dairy, nutrition, beverages, and confectionery, and holds a significant share of the market in Bangladesh. Nestlé’s iconic brands, such as Nescafé, Maggi, and Milkpak, are household names in the country.

In 2024, Nestlé Bangladesh continues to innovate with new products tailored to local tastes, including nutritious food options and ready-to-eat meals. The company also places a strong emphasis on sustainability and social responsibility, focusing on improving nutrition and reducing environmental impacts in its production processes.

8. The City Group

- Industry: Food Processing, Manufacturing

- Market Cap (2024): Approximately BDT 270 billion

The City Group is one of the largest conglomerates in Bangladesh, with a diverse portfolio spanning food products, consumer goods, and manufacturing. The group’s flagship products include edible oils, food products, and agricultural products.

City Group’s brand is a leading name in food production, especially in the edible oil sector. The company has expanded its presence across the country and is now increasingly focusing on exporting its products to international markets. In 2024, the group continues to invest heavily in modernizing its manufacturing facilities, increasing production capacity, and driving its commitment to quality control.

9. Robi Axiata Limited

- Industry: Telecommunications

- Market Cap (2024): Approximately BDT 260 billion

Robi Axiata is one of the leading mobile network operators in Bangladesh, competing closely with Grameenphone for market dominance. A subsidiary of Axiata Group, Robi has made substantial investments in 4G technology and continues to lead in the mobile internet market.

Robi’s digital transformation strategy, which includes expanding its 4G network, mobile financial services, and digital entertainment offerings, has helped the company maintain strong growth in a competitive market. In 2024, Robi remains a critical player in Bangladesh’s telecommunications sector and continues to expand its digital services to meet the growing demands of the country’s young, tech-savvy population.

10. Samsung Electronics Bangladesh

- Industry: Electronics, Technology

- Market Cap (2024): Approximately BDT 240 billion

Samsung Electronics Bangladesh, part of the South Korean conglomerate, is a major player in the country's consumer electronics market. Samsung’s diverse product range, from smartphones and televisions to home appliances and semiconductors, has made it a household name in Bangladesh.

In 2024, Samsung continues to lead the tech market with its premium smartphones, cutting-edge displays, and home electronics. The company’s strong distribution network, local manufacturing initiatives, and focus on after-sales service ensure its competitive edge in the market. Samsung is also working to increase its footprint in the country’s growing demand for smart home devices and digital solutions.

Conclusion

The largest companies in Bangladesh in 2024 reflect the country’s evolving economic landscape. From telecommunications giants like Grameenphone and Robi Axiata to global players like Nestlé and Samsung, these companies represent the pillars of Bangladesh’s industrial growth. As the country continues its journey of economic development, driven by the rise of technology, infrastructure, and consumer demand, these companies are well-positioned to lead the way, contributing significantly to Bangladesh’s GDP and international trade. The ongoing modernization of industries like pharmaceuticals, energy, and telecommunications, coupled with rising domestic consumption, promises a bright future for these corporate giants.