We are building brighter, more inclusive future for Bangladesh: BRAC Bank MD

BRAC Bank is proud to announce a landmark achievement in its financial performance for 2023, surpassing Tk800 crore.

Under the leadership of Managing Director & CEO Selim R F Hussain, the bank has demonstrated exceptional growth across all its banking segments, fueled by its commitment to customer-centric growth, digital transformation, and sustainable development, reads a press release.

Unparalleled customer growth and sectoral support

In 2023, BRAC Bank welcomed 262,584 new customers to its retail banking segment, totaling 1,236,740. This achievement underscores the bank's dedication to meeting its customers' evolving needs with personalized financial solutions. The SME sector, vital to the economy, saw 102,048 new CMSME customers onboarding, reflecting BRAC Bank's support for grassroots entrepreneurship and innovation. Additionally, the corporate banking segment grew to 8,753 customers, playing a crucial role in supporting the nation's large corporations.

Strategic digital initiatives

BRAC Bank has embraced digital transformation, achieving 80% of new account openings through eKYC. The Astha app has reached over 500,000 customers, facilitating 1.6 crore transactions and showcasing the bank's commitment to providing accessible, secure, and convenient digital banking services.

Empowering communities and fostering sustainable development

BRAC Bank's initiatives extend beyond financial success. The bank has financed 93% of the industry's total collateral-free loans. It has supported nearly 150 women entrepreneurs under the "Uddokta 101" program. With the disbursement of Tk729 Crore in agricultural loans, BRAC Bank has also significantly contributed to rural development and women's empowerment.

Global contributions and environmental stewardship

The bank's international trade activities, including $1.19 billion in RMG Textile exports and $2.50 billion in imports, have substantially contributed to Bangladesh's economy. BRAC Bank's environmental commitment is evident in its support for green factories and sustainable financing schemes.

Tax contributions and network expansion

Reflecting its role as a responsible corporate citizen, BRAC Bank contributed Tk1,194 Crore to the national exchequer in taxes. Expanding the bank's network having 1,080 agent banking outlets and 40 sub-branches across Bangladesh signifies its commitment to enhancing customer accessibility and convenience.

A forward-looking vision

"As we reflect on our journey in 2023, our success is a testament to our unwavering commitment to our customers, our community, and our country," Selim R F Hussain said.

"Fueled by the trust and confidence of our customers and stakeholders, we are poised to continue innovating, empowering, and contributing to the sustainable development of Bangladesh."

BRAC Bank thanks its customers, employees, and stakeholders for their continuous support and looks forward to achieving greater heights in the years to come.