Brac Bank’s net profit decreased by 19.22%
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FRIDAY, FEBRUARY 03, 2023
Brac Bank’s net profit decreased by 19.22%

Banking

TBS Report
25 April, 2020, 07:30 pm
Last modified: 25 April, 2020, 07:33 pm

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Brac Bank’s net profit decreased by 19.22%

The company's board of directors has decided to pay a 15 percent dividend – 7.50 percent cash and 7.50 percent bonus – to its shareholders

TBS Report
25 April, 2020, 07:30 pm
Last modified: 25 April, 2020, 07:33 pm
Brac Bank’s net profit decreased by 19.22%

Brac Bank, a company listed on the capital market, earned a consolidated net profit of Tk458.26 crore in 2019.

This is 19.22 percent less than in 2018, when the company earned a consolidated net profit of Tk567 crore.

The company's board of directors has decided to pay a 15 percent dividend – 7.50 percent cash and 7.50 percent bonus – to its shareholders.

In 2018, the company recommended 15 percent bonus dividends for its shareholders.

The recommended dividend will be approved at the company's Annual General Meeting on June 25. The company has announced June 2 as its record date.

The company's consolidated earnings per share till December 31, 2019 was Tk4.01 – which was Tk4.50 the previous year.

The company's consolidated net asset value per share was Tk32.90 at that time.

However, Brac Bank's consolidated net operating cash flow per share was Tk20.94 in 2019 – which was Tk8.36 the previous year.

The company now has a short term loan of Tk2,388.83 crore and long term loans of Tk741.50 crore.

The Brac Bank said bonus shares have been recommended to strengthen the capital base of the bank to support business growth. These shares are declared from accumulated profit.

The company also said bonus shares are not declared from: capital reserves, revaluation reserves, any unrealised gain, out of profit earned prior to incorporation of the company, through reducing paid up capital, or through doing anything so that the post dividend retained earnings become negative or a debit balance.

The company's sponsors and directors jointly own 44.29 percent shares, institutional investors own 6.86 percent, foreign investors own 43.23 percent, and general investors own 5.62 percent.

The last trading price of each share of the company on the Dhaka Stock Exchange was Tk31.90.

The company was listed on both stock exchanges in 2007.

Top News

BRAC Bank / profit / 19.22%

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