Bangladesh Bank earns record Tk 150 billion in FY23

Vigorous borrowing by the government and investment from the foreign currency reserves have boosted Bangladesh Bank’s earnings in FY23 by 148 per cent year on year to more than Tk 150 billion, the highest in its history.

The central bank’s net profit last fiscal year also increased by 239 per cent to around Tk 107.5 billion – also a record.

The national bank will submit almost all the profit to the state exchequer, its spokesman Mezbaul Haque has said, citing its financial report approved by the board.

The previous highest earnings of the central bank were Tk 86 billion in 2019-20, reports bdnews24.com.

The government borrowed Tk 1.24 trillion from the banking sector last fiscal year, including over Tk 976 billion from the Bangladesh Bank.

It paid the central bank Tk 70 billion in interest.

The Bangladesh Bank earned Tk 20 billion as interest from loans taken by the commercial banks.

From investments made from the reserves, the earnings were Tk 60 billion.