BRAC Bank posts YoY 4.28% growth in PAT after 3rd Qtr ’18

BRAC Bank Limited has posted a Year on Year growth of 4.28% profit after tax in the nine months to September 30, 2018. The bank reported a profit after tax (PAT) of BDT 3,916 million during January-September 2018 on solo basis compared to BDT 3,755 million during the corresponding period of 2017.

Consolidated profit after tax during the period of January to September 2018 amounted to BDT 3,938 million against the BDT 3,973 million recorded in the same period of 2017.

The bank’s solo Earnings Per Share (EPS) during January-September 2018 has improved to BDT 3.65 from BDT 3.51 during the same period of 2017. Similarly, consolidated basis for the nine months ended September 30, 2018 stood at BDT 3.55 which was BDT 3.53 during the same period of 2017.

The solo net asset value (NAV) per share of the bank at the end of September 30, 2018 rose to BDT 28.07 from BDT 22.90 in the same period of 2017. On consolidated basis, net asset value (NAV) per share of the bank at the end of September 30, 2018 stood at BDT 30.26, compared to the BDT 23.70 in the same period of 2017.

Valued shareholders, local and foreign Investment analysts and capital market experts joined the program through live broadcast on the internet Mr. Selim R. F. Hussain, Managing Director & CEO, BRAC Bank Limited, presented the financial results and then followed up with a Q&A session from local and overseas investors and market analysts. The program took place at the bank’s head office in Dhaka on October 31, 2018.

Nazmur Rahim, Head of Retail Banking; Mohammad Abdul Ohab Miah, Acting CFO; Syed Abdul Momen, Head of SME Banking; Shaheen Iqbal, Head of Treasury & Financial Institutions; Tareq Refat Ullah Khan, Head of Corporate Banking; M. Sarwar Ahmed, Head of Internal Control and Compliance; and were also present in the program.

Hussain said, “Over these past nine months, we have made good progress in a number of technology projects that we have embarked on to both enhance the Bank’s overall capacity and also enhance specific products and services. The consistency in growth momentum and financial results, that too, against a backdrop of reducing margins and difficult market conditions, keep us firmly on the path of becoming the Best Bank in the country.” Hussain also gratefully acknowledged the bank’s valued customers and stakeholders for their continued patronage and guidance.

News Hour Correspondent

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
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