BRAC Bank posts 4.28pc growth in Jan-Sept profit

Published: November 02, 2018 11:21:46 | Updated: November 04, 2018 10:03:35


Managing Director and CEO of BRAC Bank Limited Selim R. F. Hussain presenting the financial results at a programme in the city on Wednesday

BRAC Bank Limited posted a Year on Year growth of 4.28 per cent in profit after tax in the nine months to September 30 last, the bank said in statement on Thursday.

The disclosure came at a function held at the bank's head office in the city on Wednesday.

The bank reported a profit after tax (PAT) of Tk 3,916 million during the January-September period on a solo basis compared to Tk 3,755 million during the corresponding period of 2017.

The consolidated profit after tax during the period of January to September amounted to Tk 3,938 million against Tk 3,973 million recorded in the corresponding period of 2017.

The bank's solo Earnings Per Share (EPS) during the January-September period improved to Tk 3.65 from Tk 3.51 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 Tk 28.07 from Tk 22.90 in the same period of 2017.

On a consolidated basis, the net asset value (NAV) per share of the bank as of September 30, 2018 stood at Tk 30.26, compared to Tk 23.70 in the same period of 2017.

Managing Director and CEO of BRAC Bank Limited Selim R. F. Hussain presented the financial results at the programme.

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; were also present.

Mr 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."

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