BRAC Bank profit grows 35%, crosses Tk800 crore
Banking
BRAC Bank achieved a remarkable 35% growth in profit, reaching Tk827.50 crore for the year ended 31 December 2023, marking its highest-ever profit in history, according to the bank's annual financial statement.
The bank achieved its highest-ever profit last year, primarily propelled by interest income, Selim RF Hussain, managing director of BRAC Bank, told The Business Standard today (2 April).
He added that the bank's loan disbursement and deposit collection experienced growth surpassing the banking sector average, which was made possible through the development of digital banking services.
The private sector lender has disclosed its annual audited financial statement, which was approved at a board meeting held on Tuesday (2 April).
The board of the bank also recommended 10% cash and 10% stock dividends to its shareholders for the last year.
To approve the dividend and the audited financial accounts, it will conduct the annual general meeting scheduled on 30 May, and the record date is 7 May.
At the end of the last year, its consolidated earnings per share was Tk4.73, which was Tk3.75 in 2022.
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